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{\*\bkmkstart filing_1}{\*\bkmkend filing_1}{\*\bkmkstart doc_1_1}{\*\bkmkend doc_1_1}\par\pard\plain\ul{\field{\*\fldinst HYPERLINK \\l "toc_2281309" }{\*\fldrslt\cf3\f52\fs16\b\ql Table of Contents}}\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\cf1\f51\fs28\b\qc UNITED STATES\par\pard\plain\cf1\f51\fs28\b\qc SECURITIES AND EXCHANGE COMMISSION\par\pard\plain\cf1\f51\fs16\b\qc Washington, D.C. 20549\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs28\b\qc FORM 10-Q\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\ql (Mark One)\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
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\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f54\fs20\b\ql x\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs20\b\ql QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT\plain\intbl\cf1\f51\fs20\b\ql OF 1934\cell{
{\trowd\clvertalc\cellx540\cellx971\cellx1079\cellx10800\trrh495\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qc For the quarterly period ended June 30, 2003\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qc OR\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
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\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f54\fs20\b\ql ¨\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs20\b\ql TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT\plain\intbl\cf1\f51\fs20\b\ql OF 1934\cell{
{\trowd\clvertalc\cellx540\cellx971\cellx1079\cellx10800\trrh495\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs20\b\qc For the transition period from \plain\cf1\f51\fs20\b\ul\qc \~\~\~\~\~\~\~\~\~\~\~\~\~\~\~\~\~\~\~\~\plain\cf1\f51\fs20\b\qc to \plain\cf1\f51\fs20\b\ul\qc \~\~\~\~\~\~\~\~\~\~\~\~\~\~\~\~\~\~\~\~\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qc Commission file number 0-32405\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs34\b\qc SEATTLE GENETICS, INC.\par\pard\plain\cf1\f51\fs16\qc (Exact name of registrant as specified in its charter)\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
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\pard\plain\intbl\cf1\f51\fs16\b\qc Delaware\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\qc 91-1874389\cell{
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\pard\plain\intbl\cf1\f51\fs16\qc (State or other jurisdiction\par\pard\plain\intbl\cf1\f51\fs16\qc of incorporation or organization)\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qc (I.R.S. Employer\par\pard\plain\intbl\cf1\f51\fs16\qc Identification No.)\cell{
{\trowd\cellx5112\clvertalb\cellx5688\clvertalb\cellx10800\trrh413\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qc 21823 30\plain\cf1\f51\fs11\b\qc\super th\plain\cf1\f51\fs16\b\qc Drive SE\par\pard\plain\cf1\f51\fs16\b\qc Bothell, Washington 98021\par\pard\plain\cf1\f51\fs16\qc (Address of principal executive offices, including zip code)\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc (Registrant\u8217?s telephone number, including area code):\plain\cf1\f51\fs16\b\qc (425) 527-4000\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of\plain\cf1\f51\fs16\ql 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such\plain\cf1\f51\fs16\ql filing requirements for the past 90 days.\~\~\~\~YES\~\~\plain\cf1\f54\fs16\ql x\plain\cf1\f51\fs16\ql \~\~\~\~ NO\~\~\plain\cf1\f54\fs16\ql ¨\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Indicate by check mark whether the registrant is an accelerated filer (as defined in Rule 12b-2 of the Exchange Act).\~\~\~\~YES\~\~\plain\cf1\f54\fs16\ql ¨\plain\cf1\f51\fs16\ql \~\~\~\~NO\~\~\plain\cf1\f54\fs16\ql x\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql As of July 31, 2003, there were 30,814,064 shares of the registrant\u8217?s common stock outstanding.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\ul{\field{\*\fldinst HYPERLINK \\l "toc_2281309" }{\*\fldrslt\cf3\f52\fs16\b\ql Table of Contents}}\par\pard\plain\cf1\f51\fs16\b\qc Seattle Genetics, Inc.\par\pard\plain\cf1\f51\fs16\b\qc For the quarter ended June 30, 2003\par\pard\plain\cf1\f51\fs13\ql \~{\*\bkmkstart toc_2281309}{\*\bkmkend toc_2281309}\par\pard\plain\cf1\f51\fs16\b\qc INDEX\par\pard\plain\cf1\f51\fs13\ql \~{\*\bkmkstart part_1_2_1}{\*\bkmkend part_1_2_1}{\*\bkmkstart item_1_3_1}{\*\bkmkend item_1_3_1}
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Item 2.\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\ul{\field{\*\fldinst HYPERLINK \\l "tx20648_6_2281309" }{\*\fldrslt\cf3\f51\fs16\ql Management\u8217?s Discussion and Analysis of Financial Condition and Results of Operations}}\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 11\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Item 3.\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\ul{\field{\*\fldinst HYPERLINK \\l "tx20648_7_2281309" }{\*\fldrslt\cf3\f51\fs16\ql Quantitative and Qualitative Disclosures About Market Risk}}\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 25\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Item 4.\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\ul{\field{\*\fldinst HYPERLINK \\l "tx20648_11_2281309" }{\*\fldrslt\cf3\f51\fs16\ql Submission of Matters to a Vote of Security Holders}}\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 26\cell{
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{\trowd\clvertalc\cellx664\clvertalc\cellx10068\clvertalc\cellx10798\trrh66
\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
{\trowd\clvertalc\cellx664\clvertalc\cellx10068\clvertalc\cellx10798\trrh66\row}}}
{\trowd\cellx664\clvertalb\cellx1127\clvertalb\cellx10067\clvertalb\cellx10492\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Item 6.\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\ul{\field{\*\fldinst HYPERLINK \\l "tx20648_12_2281309" }{\*\fldrslt\cf3\f51\fs16\ql Exhibits and Reports on Form 8-K}}\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 27\cell{
{\trowd\cellx664\clvertalb\cellx1127\clvertalb\cellx10067\clvertalb\cellx10492\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clvertalc\cellx10069\clvertalc\cellx10799\trrh66
\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
{\trowd\clvertalc\cellx10069\clvertalc\cellx10799\trrh66\row}}}
{\trowd\cellx10069\clvertalb\cellx10494\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li176\ul{\field{\*\fldinst HYPERLINK \\l "tx20648_13_2281309" }{\*\fldrslt\cf3\f51\fs16\b\ql SIGNATURES}}\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 28\cell{
{\trowd\cellx10069\clvertalb\cellx10494\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clvertalc\cellx10069\clvertalc\cellx10799\trrh66
\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
{\trowd\clvertalc\cellx10069\clvertalc\cellx10799\trrh66\row}}}
{\trowd\cellx10069\clvertalb\cellx10494\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\b\ql EXHIBIT INDEX\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell{
{\trowd\cellx10069\clvertalb\cellx10494\clvertalb\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 2
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\ul{\field{\*\fldinst HYPERLINK \\l "toc_2281309" }{\*\fldrslt\cf3\f52\fs16\b\ql Table of Contents}}\par\pard\plain\cf1\f51\fs16\b\ql PART I.\~\~\~\~FINANCIAL INFORMATION\par\pard\plain\cf1\f51\fs13\ql \~{\*\bkmkstart item_1_3_2}{\*\bkmkend item_1_3_2}{\*\bkmkstart tx20648_1_2281309}{\*\bkmkend tx20648_1_2281309}\par\pard\plain\cf1\f51\fs16\b\ql Item 1.\~\~\~\~Financial Statements\par\pard\plain\cf1\f51\fs13\ql \~{\*\bkmkstart tx20648_2_2281309}{\*\bkmkend tx20648_2_2281309}\par\pard\plain\cf1\f51\fs16\b\qc Seattle Genetics, Inc.\par\pard\plain\cf1\f51\fs16\b\qc Balance Sheets\par\pard\plain\cf1\f51\fs16\b\qc (Unaudited)\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\clvertalb\cellx7205\clvertalb\cellx7811\clvertalb\cellx8817\clvertalb\cellx8924\clvertalb\cellx9527\clvertalb\cellx10691\clvertalb\cellx10800\trrh603
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc June 30,\par\pard\plain\intbl\cf1\f51\fs13\b\qc 2003\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc December 31,\par\pard\plain\intbl\cf1\f51\fs13\b\qc 2002\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell{
{\trowd\clvertalb\cellx7205\clvertalb\cellx7811\clvertalb\cellx8817\clvertalb\cellx8924\clvertalb\cellx9527\clvertalb\cellx10691\clvertalb\cellx10800\trrh603\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\b\ql Assets\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\clvertalc\cellx7205\clvertalc\cellx8924\clvertalc\cellx10798\trrh66
\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
{\trowd\clvertalc\cellx7205\clvertalc\cellx8924\clvertalc\cellx10798\trrh66\row}}}
{\trowd\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Current assets\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell{
{\trowd\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Cash and cash equivalents\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 8,628,196\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 9,180,916\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Short-term investments\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 5,039,849\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 17,198,934\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Interest receivable\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 177,192\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 371,303\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Accounts receivable\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 1,119,901\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 372,036\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Prepaid expenses and other current assets\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 1,008,902\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 320,443\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\clvertalb\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh259
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh259\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li968\fi-176\cf1\f51\fs16\ql Total current assets\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 15,974,040\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 27,443,632\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Property and equipment, net\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 5,819,791\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 6,236,270\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Restricted investments\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 986,332\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 980,291\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Long-term investments\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 18,456,057\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 17,839,089\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Other assets\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 36,406\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 36,406\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\clvertalb\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh259
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh259\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li968\fi-176\cf1\f51\fs16\ql Total assets\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 41,272,626\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 52,535,688\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\clvertalb\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh281
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh281\row}}}
{\trowd\clvertalc\cellx7205\clvertalc\cellx8924\clvertalc\cellx10798\trrh66
\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
{\trowd\clvertalc\cellx7205\clvertalc\cellx8924\clvertalc\cellx10798\trrh66\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\b\ql Liabilities and Stockholders\u8217? Equity\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\clvertalc\cellx7205\clvertalc\cellx8924\clvertalc\cellx10798\trrh66
\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
{\trowd\clvertalc\cellx7205\clvertalc\cellx8924\clvertalc\cellx10798\trrh66\row}}}
{\trowd\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Current liabilities\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell{
{\trowd\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Accounts payable and accrued liabilities\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 1,975,303\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 2,190,732\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Current portion of deferred revenue\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 1,191,067\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 1,301,316\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clvertalb\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh259
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh259\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li968\fi-176\cf1\f51\fs16\ql Total current liabilities\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 3,166,370\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 3,492,048\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\clvertalb\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh259
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh259\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Deferred rent\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 337,177\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 268,026\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Deferred revenue, less current portion\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 1,618,750\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 2,074,159\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clvertalb\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh259
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh259\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li968\fi-176\cf1\f51\fs16\ql Total long-term liabilities\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 1,955,927\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 2,342,185\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\clvertalb\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh259
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh259\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Stockholders\u8217? equity\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Preferred stock, $0.001 par value, 5,000,000 shares authorized, no shares issued\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr \u8212?\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr \u8212?\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh413
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Common stock, $0.001 par value, 100,000,000 shares authorized, 30,793,656 and 30,693,477\plain\intbl\li572\cf1\f51\fs16\ql issued and outstanding, respectively\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 30,794\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 30,693\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh413\row}}}
{\trowd\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Additional paid-in capital\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 105,376,164\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 105,229,281\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Notes receivable from stockholders\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (181,562\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (271,533\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Deferred stock compensation\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (1,198,597\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (1,965,913\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell{
{\trowd\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Accumulated other comprehensive income\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 205,997\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 294,961\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Accumulated deficit\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (68,082,467\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (56,616,034\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell{
{\trowd\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clvertalb\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh259
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh259\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li968\fi-176\cf1\f51\fs16\ql Total stockholders\u8217? equity\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 36,150,329\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 46,701,455\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\clvertalb\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh259
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh259\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li968\fi-176\cf1\f51\fs16\ql Total liabilities and stockholders\u8217? equity\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 41,272,626\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 52,535,688\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7205\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7811\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7963\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8816\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8923\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9526\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9836\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10689\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\clvertalb\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh281
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx7205\clvertalb\cellx7811\clvertalb\cellx7963\clvertalb\cellx8816\clvertalb\cellx8923\clvertalb\cellx9526\clvertalb\cellx9836\clvertalb\cellx10689\clvertalb\cellx10800\trrh281\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc The accompanying notes are an integral part of these financial statements.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 3
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\ul{\field{\*\fldinst HYPERLINK \\l "toc_2281309" }{\*\fldrslt\cf3\f52\fs16\b\ql Table of Contents}}{\*\bkmkstart tx20648_3_2281309}{\*\bkmkend tx20648_3_2281309}\par\pard\plain\cf1\f51\fs16\b\qc Seattle Genetics, Inc.\par\pard\plain\cf1\f51\fs16\b\qc Statements of Operations\par\pard\plain\cf1\f51\fs16\b\qc (Unaudited)\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\clvertalb\cellx4849\clvertalb\cellx5264\clvertalb\cellx7624\clvertalb\cellx7731\clvertalb\cellx8144\clvertalb\cellx10688\clvertalb\cellx10800\trrh603
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc Three months ended\par\pard\plain\intbl\cf1\f51\fs13\b\qc June 30,\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc Six months ended\par\pard\plain\intbl\cf1\f51\fs13\b\qc June 30,\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell{
{\trowd\clvertalb\cellx4849\clvertalb\cellx5264\clvertalb\cellx7624\clvertalb\cellx7731\clvertalb\cellx8144\clvertalb\cellx10688\clvertalb\cellx10800\trrh603\row}}}
{\trowd\clvertalb\cellx4849\clvertalb\cellx5264\clvertalb\cellx6182\clvertalb\cellx6289\clvertalb\cellx6704\clvertalb\cellx7622\clvertalb\cellx7729\clvertalb\cellx8142\clvertalb\cellx9153\clvertalb\cellx9260\clvertalb\cellx9675\clvertalb\cellx10686\clvertalb\cellx10800\trrh506
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc 2003
\par\pard\plain\intbl\fs16\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc 2002
\par\pard\plain\intbl\fs16\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc 2003
\par\pard\plain\intbl\fs16\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc 2002
\par\pard\plain\intbl\fs16\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell{
{\trowd\clvertalb\cellx4849\clvertalb\cellx5264\clvertalb\cellx6182\clvertalb\cellx6289\clvertalb\cellx6704\clvertalb\cellx7622\clvertalb\cellx7729\clvertalb\cellx8142\clvertalb\cellx9153\clvertalb\cellx9260\clvertalb\cellx9675\clvertalb\cellx10686\clvertalb\cellx10800\trrh506\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4849\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5264\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5412\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6182\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6704\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6852\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7622\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7729\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8142\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8290\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9152\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9259\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9674\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9822\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Revenues\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4849\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5264\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5412\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6182\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6704\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6852\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7622\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7729\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8142\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8290\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9152\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9259\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9674\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9822\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\cellx4849\clvertalb\cellx5264\clvertalb\cellx5412\clvertalb\cellx6182\clvertalb\cellx6289\clvertalb\cellx6704\clvertalb\cellx6852\clvertalb\cellx7622\clvertalb\cellx7729\clvertalb\cellx8142\clvertalb\cellx8290\clvertalb\cellx9152\clvertalb\cellx9259\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Collaboration and license agreements\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 1,488,918\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 332,357\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 2,167,811\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 552,176\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\cellx4849\clvertalb\cellx5264\clvertalb\cellx5412\clvertalb\cellx6182\clvertalb\cellx6289\clvertalb\cellx6704\clvertalb\cellx6852\clvertalb\cellx7622\clvertalb\cellx7729\clvertalb\cellx8142\clvertalb\cellx8290\clvertalb\cellx9152\clvertalb\cellx9259\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4849\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5264\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5412\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6182\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6704\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6852\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7622\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7729\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8142\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8290\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9152\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9259\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9674\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9822\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Government grants\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 15,675\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 43,048\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 47,225\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 92,501\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4849\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5264\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5412\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6182\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6704\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6852\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7622\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7729\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8142\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8290\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9152\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9259\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9674\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9822\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\clvertalb\cellx4849\clvertalb\cellx5264\clvertalb\cellx5412\clvertalb\cellx6182\clvertalb\cellx6289\clvertalb\cellx6704\clvertalb\cellx6852\clvertalb\cellx7622\clvertalb\cellx7729\clvertalb\cellx8142\clvertalb\cellx8290\clvertalb\cellx9152\clvertalb\cellx9259\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh259
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx4849\clvertalb\cellx5264\clvertalb\cellx5412\clvertalb\cellx6182\clvertalb\cellx6289\clvertalb\cellx6704\clvertalb\cellx6852\clvertalb\cellx7622\clvertalb\cellx7729\clvertalb\cellx8142\clvertalb\cellx8290\clvertalb\cellx9152\clvertalb\cellx9259\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh259\row}}}
{\trowd\clvertalc\cellx4849\clvertalc\cellx6290\clvertalc\cellx7731\clvertalc\cellx9263\clvertalc\cellx10796\trrh66
\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
{\trowd\clvertalc\cellx4849\clvertalc\cellx6290\clvertalc\cellx7731\clvertalc\cellx9263\clvertalc\cellx10796\trrh66\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4849\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5264\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5412\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6182\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6704\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6852\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7622\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7729\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8142\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8290\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9152\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9259\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9674\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9822\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Total revenues\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 1,504,593\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 375,405\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 2,215,036\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 644,677\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4849\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5264\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5412\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6182\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6704\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6852\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7622\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7729\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8142\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8290\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9152\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9259\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9674\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9822\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\clvertalc\cellx4849\clvertalc\cellx6290\clvertalc\cellx7731\clvertalc\cellx9263\clvertalc\cellx10796\trrh66
\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
{\trowd\clvertalc\cellx4849\clvertalc\cellx6290\clvertalc\cellx7731\clvertalc\cellx9263\clvertalc\cellx10796\trrh66\row}}}
{\trowd\cellx4849\clvertalb\cellx5264\clvertalb\cellx5412\clvertalb\cellx6182\clvertalb\cellx6289\clvertalb\cellx6704\clvertalb\cellx6852\clvertalb\cellx7622\clvertalb\cellx7729\clvertalb\cellx8142\clvertalb\cellx8290\clvertalb\cellx9152\clvertalb\cellx9259\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Operating expenses\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell{
{\trowd\cellx4849\clvertalb\cellx5264\clvertalb\cellx5412\clvertalb\cellx6182\clvertalb\cellx6289\clvertalb\cellx6704\clvertalb\cellx6852\clvertalb\cellx7622\clvertalb\cellx7729\clvertalb\cellx8142\clvertalb\cellx8290\clvertalb\cellx9152\clvertalb\cellx9259\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4849\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5264\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5412\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6182\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6704\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6852\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7622\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7729\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8142\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8290\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9152\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9259\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9674\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9822\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh619
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Research and development (excludes non-cash stock-based\plain\intbl\li572\cf1\f51\fs16\ql compensation expense of $193,512, $269,796, $239,483 and\plain\intbl\li572\cf1\f51\fs16\ql $585,375, respectively)\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 5,633,662\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 5,314,607\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 11,161,094\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 10,167,503\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4849\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5264\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5412\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6182\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6704\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6852\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7622\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7729\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8142\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8290\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9152\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9259\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9674\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9822\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh619\row}}}
{\trowd\cellx4849\clvertalb\cellx5264\clvertalb\cellx5412\clvertalb\cellx6182\clvertalb\cellx6289\clvertalb\cellx6704\clvertalb\cellx6852\clvertalb\cellx7622\clvertalb\cellx7729\clvertalb\cellx8142\clvertalb\cellx8290\clvertalb\cellx9152\clvertalb\cellx9259\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh619
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql General and administrative (excludes non-cash stock-based\plain\intbl\li572\cf1\f51\fs16\ql compensation expense of $297,281 $557,973, $595,701 and\plain\intbl\li572\cf1\f51\fs16\ql $1,121,921, respectively)\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 1,125,978\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 1,054,793\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 2,263,805\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 2,160,205\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\cellx4849\clvertalb\cellx5264\clvertalb\cellx5412\clvertalb\cellx6182\clvertalb\cellx6289\clvertalb\cellx6704\clvertalb\cellx6852\clvertalb\cellx7622\clvertalb\cellx7729\clvertalb\cellx8142\clvertalb\cellx8290\clvertalb\cellx9152\clvertalb\cellx9259\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh619\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4849\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5264\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5412\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6182\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6704\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6852\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7622\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7729\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8142\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8290\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9152\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9259\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9674\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9822\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Non-cash stock-based compensation expense\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 490,793\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 827,769\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 835,184\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 1,707,296\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4849\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5264\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5412\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6182\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6704\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6852\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7622\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7729\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8142\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8290\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9152\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9259\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9674\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9822\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\clvertalb\cellx4849\clvertalb\cellx5264\clvertalb\cellx5412\clvertalb\cellx6182\clvertalb\cellx6289\clvertalb\cellx6704\clvertalb\cellx6852\clvertalb\cellx7622\clvertalb\cellx7729\clvertalb\cellx8142\clvertalb\cellx8290\clvertalb\cellx9152\clvertalb\cellx9259\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh259
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx4849\clvertalb\cellx5264\clvertalb\cellx5412\clvertalb\cellx6182\clvertalb\cellx6289\clvertalb\cellx6704\clvertalb\cellx6852\clvertalb\cellx7622\clvertalb\cellx7729\clvertalb\cellx8142\clvertalb\cellx8290\clvertalb\cellx9152\clvertalb\cellx9259\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh259\row}}}
{\trowd\clvertalc\cellx4849\clvertalc\cellx6290\clvertalc\cellx7731\clvertalc\cellx9263\clvertalc\cellx10796\trrh66
\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
{\trowd\clvertalc\cellx4849\clvertalc\cellx6290\clvertalc\cellx7731\clvertalc\cellx9263\clvertalc\cellx10796\trrh66\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4849\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5264\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5412\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6182\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6704\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6852\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7622\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7729\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8142\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8290\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9152\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9259\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9674\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9822\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Total operating expenses\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 7,250,433\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 7,197,169\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 14,260,083\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 14,035,004\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4849\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5264\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5412\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6182\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6704\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6852\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7622\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7729\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8142\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8290\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9152\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9259\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9674\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9822\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\clvertalb\cellx4849\clvertalb\cellx5264\clvertalb\cellx5412\clvertalb\cellx6182\clvertalb\cellx6289\clvertalb\cellx6704\clvertalb\cellx6852\clvertalb\cellx7622\clvertalb\cellx7729\clvertalb\cellx8142\clvertalb\cellx8290\clvertalb\cellx9152\clvertalb\cellx9259\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh259
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx4849\clvertalb\cellx5264\clvertalb\cellx5412\clvertalb\cellx6182\clvertalb\cellx6289\clvertalb\cellx6704\clvertalb\cellx6852\clvertalb\cellx7622\clvertalb\cellx7729\clvertalb\cellx8142\clvertalb\cellx8290\clvertalb\cellx9152\clvertalb\cellx9259\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh259\row}}}
{\trowd\clvertalc\cellx4849\clvertalc\cellx6290\clvertalc\cellx7731\clvertalc\cellx9263\clvertalc\cellx10796\trrh66
\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
{\trowd\clvertalc\cellx4849\clvertalc\cellx6290\clvertalc\cellx7731\clvertalc\cellx9263\clvertalc\cellx10796\trrh66\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4849\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5264\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5412\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6182\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6704\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6852\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7622\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7729\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8142\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8290\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9152\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9259\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9674\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9822\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Loss from operations\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (5,745,840\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (6,821,764\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (12,045,047\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (13,390,327\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4849\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5264\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5412\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6182\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6704\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6852\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7622\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7729\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8142\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8290\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9152\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9259\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9674\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9822\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\clvertalc\cellx4849\clvertalc\cellx6290\clvertalc\cellx7731\clvertalc\cellx9263\clvertalc\cellx10796\trrh66
\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
{\trowd\clvertalc\cellx4849\clvertalc\cellx6290\clvertalc\cellx7731\clvertalc\cellx9263\clvertalc\cellx10796\trrh66\row}}}
{\trowd\cellx4849\clvertalb\cellx5264\clvertalb\cellx5412\clvertalb\cellx6182\clvertalb\cellx6289\clvertalb\cellx6704\clvertalb\cellx6852\clvertalb\cellx7622\clvertalb\cellx7729\clvertalb\cellx8142\clvertalb\cellx8290\clvertalb\cellx9152\clvertalb\cellx9259\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Investment income, net\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 241,013\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 555,679\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 578,614\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 1,132,306\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\cellx4849\clvertalb\cellx5264\clvertalb\cellx5412\clvertalb\cellx6182\clvertalb\cellx6289\clvertalb\cellx6704\clvertalb\cellx6852\clvertalb\cellx7622\clvertalb\cellx7729\clvertalb\cellx8142\clvertalb\cellx8290\clvertalb\cellx9152\clvertalb\cellx9259\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clvertalb\cellx4849\clvertalb\cellx5264\clvertalb\cellx5412\clvertalb\cellx6182\clvertalb\cellx6289\clvertalb\cellx6704\clvertalb\cellx6852\clvertalb\cellx7622\clvertalb\cellx7729\clvertalb\cellx8142\clvertalb\cellx8290\clvertalb\cellx9152\clvertalb\cellx9259\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh259
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx4849\clvertalb\cellx5264\clvertalb\cellx5412\clvertalb\cellx6182\clvertalb\cellx6289\clvertalb\cellx6704\clvertalb\cellx6852\clvertalb\cellx7622\clvertalb\cellx7729\clvertalb\cellx8142\clvertalb\cellx8290\clvertalb\cellx9152\clvertalb\cellx9259\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh259\row}}}
{\trowd\clvertalc\cellx4849\clvertalc\cellx6290\clvertalc\cellx7731\clvertalc\cellx9263\clvertalc\cellx10796\trrh66
\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
{\trowd\clvertalc\cellx4849\clvertalc\cellx6290\clvertalc\cellx7731\clvertalc\cellx9263\clvertalc\cellx10796\trrh66\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4849\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5264\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5412\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6182\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6704\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6852\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7622\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7729\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8142\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8290\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9152\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9259\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9674\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9822\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Net loss\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (5,504,827\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (6,266,085\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (11,466,433\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (12,258,021\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4849\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5264\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5412\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6182\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6704\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6852\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7622\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7729\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8142\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8290\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9152\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9259\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9674\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9822\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\clvertalb\cellx4849\clvertalb\cellx5264\clvertalb\cellx5412\clvertalb\cellx6182\clvertalb\cellx6289\clvertalb\cellx6704\clvertalb\cellx6852\clvertalb\cellx7622\clvertalb\cellx7729\clvertalb\cellx8142\clvertalb\cellx8290\clvertalb\cellx9152\clvertalb\cellx9259\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh281
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx4849\clvertalb\cellx5264\clvertalb\cellx5412\clvertalb\cellx6182\clvertalb\cellx6289\clvertalb\cellx6704\clvertalb\cellx6852\clvertalb\cellx7622\clvertalb\cellx7729\clvertalb\cellx8142\clvertalb\cellx8290\clvertalb\cellx9152\clvertalb\cellx9259\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh281\row}}}
{\trowd\clvertalc\cellx4849\clvertalc\cellx6290\clvertalc\cellx7731\clvertalc\cellx9263\clvertalc\cellx10796\trrh66
\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
{\trowd\clvertalc\cellx4849\clvertalc\cellx6290\clvertalc\cellx7731\clvertalc\cellx9263\clvertalc\cellx10796\trrh66\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4849\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5264\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5412\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6182\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6704\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6852\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7622\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7729\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8142\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8290\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9152\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9259\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9674\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9822\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Basic and diluted net loss per share\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (0.18\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (0.21\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (0.37\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (0.41\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4849\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5264\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5412\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6182\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6704\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6852\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7622\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7729\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8142\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8290\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9152\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9259\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9674\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9822\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\clvertalb\cellx4849\clvertalb\cellx5264\clvertalb\cellx5412\clvertalb\cellx6182\clvertalb\cellx6289\clvertalb\cellx6704\clvertalb\cellx6852\clvertalb\cellx7622\clvertalb\cellx7729\clvertalb\cellx8142\clvertalb\cellx8290\clvertalb\cellx9152\clvertalb\cellx9259\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh281
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx4849\clvertalb\cellx5264\clvertalb\cellx5412\clvertalb\cellx6182\clvertalb\cellx6289\clvertalb\cellx6704\clvertalb\cellx6852\clvertalb\cellx7622\clvertalb\cellx7729\clvertalb\cellx8142\clvertalb\cellx8290\clvertalb\cellx9152\clvertalb\cellx9259\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh281\row}}}
{\trowd\clvertalc\cellx4849\clvertalc\cellx6290\clvertalc\cellx7731\clvertalc\cellx9263\clvertalc\cellx10796\trrh66
\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
{\trowd\clvertalc\cellx4849\clvertalc\cellx6290\clvertalc\cellx7731\clvertalc\cellx9263\clvertalc\cellx10796\trrh66\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4849\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5264\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5412\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6182\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6704\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6852\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7622\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7729\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8142\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8290\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9152\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9259\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9674\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9822\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh413
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Weighted-average shares used in computing basic and diluted net\plain\intbl\li176\cf1\f51\fs16\ql loss per share\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 30,618,987\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 30,184,006\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 30,584,599\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 29,848,057\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4849\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5264\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5412\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6182\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6704\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6852\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7622\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7729\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8142\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8290\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9152\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9259\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9674\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9822\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh413\row}}}
{\trowd\clvertalb\cellx4849\clvertalb\cellx5264\clvertalb\cellx5412\clvertalb\cellx6182\clvertalb\cellx6289\clvertalb\cellx6704\clvertalb\cellx6852\clvertalb\cellx7622\clvertalb\cellx7729\clvertalb\cellx8142\clvertalb\cellx8290\clvertalb\cellx9152\clvertalb\cellx9259\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh281
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx4849\clvertalb\cellx5264\clvertalb\cellx5412\clvertalb\cellx6182\clvertalb\cellx6289\clvertalb\cellx6704\clvertalb\cellx6852\clvertalb\cellx7622\clvertalb\cellx7729\clvertalb\cellx8142\clvertalb\cellx8290\clvertalb\cellx9152\clvertalb\cellx9259\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh281\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc The accompanying notes are an integral part of these financial statements.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 4
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\ul{\field{\*\fldinst HYPERLINK \\l "toc_2281309" }{\*\fldrslt\cf3\f52\fs16\b\ql Table of Contents}}{\*\bkmkstart tx20648_4_2281309}{\*\bkmkend tx20648_4_2281309}\par\pard\plain\cf1\f51\fs16\b\qc Seattle Genetics, Inc.\par\pard\plain\cf1\f51\fs16\b\qc Statements of Cash Flows\par\pard\plain\cf1\f51\fs16\b\qc (Unaudited)\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\clvertalb\cellx7721\clvertalb\cellx8141\clvertalb\cellx10691\clvertalb\cellx10800\trrh603
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc Six months ended\par\pard\plain\intbl\cf1\f51\fs13\b\qc June 30,\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell{
{\trowd\clvertalb\cellx7721\clvertalb\cellx8141\clvertalb\cellx10691\clvertalb\cellx10800\trrh603\row}}}
{\trowd\clvertalb\cellx7721\clvertalb\cellx8141\clvertalb\cellx9152\clvertalb\cellx9259\clvertalb\cellx9679\clvertalb\cellx10690\clvertalb\cellx10800\trrh506
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc 2003
\par\pard\plain\intbl\fs16\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc 2002
\par\pard\plain\intbl\fs16\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell{
{\trowd\clvertalb\cellx7721\clvertalb\cellx8141\clvertalb\cellx9152\clvertalb\cellx9259\clvertalb\cellx9679\clvertalb\cellx10690\clvertalb\cellx10800\trrh506\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\b\ql Operating activities\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Net loss\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (11,466,433\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (12,258,021\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell{
{\trowd\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Adjustments to reconcile net loss to net cash used in operating activities\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li968\fi-176\cf1\f51\fs16\ql Stock-based compensation expense\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 835,184\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 1,707,296\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li968\fi-176\cf1\f51\fs16\ql Depreciation and amortization\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 660,482\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 578,407\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li968\fi-176\cf1\f51\fs16\ql Realized gain on sale of investments\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr \u8212?\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (3,100\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell{
{\trowd\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li968\fi-176\cf1\f51\fs16\ql Amortization on investments\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 189,618\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 378,009\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li968\fi-176\cf1\f51\fs16\ql Deferred rent\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 69,151\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 88,539\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li968\fi-176\cf1\f51\fs16\ql Changes in operating assets and liabilities\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li1364\fi-176\cf1\f51\fs16\ql Interest receivable\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 194,111\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 44,604\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li1364\fi-176\cf1\f51\fs16\ql Accounts receivable\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (747,865\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (59,203\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li1364\fi-176\cf1\f51\fs16\ql Prepaid expenses and other current assets\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (364,895\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (222,853\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell{
{\trowd\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li1364\fi-176\cf1\f51\fs16\ql Accounts payable and accrued liabilities\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (215,429\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 660,448\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li1364\fi-176\cf1\f51\fs16\ql Deferred revenue\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (565,658\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 2,797,917\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clvertalb\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh259
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh259\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li1760\fi-176\cf1\f51\fs16\ql Net cash used in operating activities\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (11,411,734\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (6,287,957\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\clvertalb\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh259
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh259\row}}}
{\trowd\clvertalc\cellx7721\clvertalc\cellx9260\clvertalc\cellx10799\trrh66
\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
{\trowd\clvertalc\cellx7721\clvertalc\cellx9260\clvertalc\cellx10799\trrh66\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\b\ql Investing activities\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Purchases of investments\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (5,428,637\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (16,552,934\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell{
{\trowd\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Proceeds from sale and maturities of investments\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 16,686,131\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 13,115,954\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Purchases of property and equipment\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (244,003\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (1,020,484\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell{
{\trowd\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clvertalb\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh259
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh259\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li1760\fi-176\cf1\f51\fs16\ql Net cash provided by (used in) investing activities\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 11,013,491\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (4,457,464\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\clvertalb\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh259
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh259\row}}}
{\trowd\clvertalc\cellx7721\clvertalc\cellx9260\clvertalc\cellx10799\trrh66
\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
{\trowd\clvertalc\cellx7721\clvertalc\cellx9260\clvertalc\cellx10799\trrh66\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\b\ql Financing activities\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Net proceeds from issuance of common stock\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 79,116\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 6,576,915\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Collection of note receivable from stockholder\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 89,971\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr \u8212?\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Prepaid private placement costs\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (323,564\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr \u8212?\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clvertalb\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh259
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh259\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li1760\fi-176\cf1\f51\fs16\ql Net cash (used in) provided by financing activities\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (154,477\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 6,576,915\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
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\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh259\row}}}
{\trowd\clvertalc\cellx7721\clvertalc\cellx9260\clvertalc\cellx10799\trrh66
\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
{\trowd\clvertalc\cellx7721\clvertalc\cellx9260\clvertalc\cellx10799\trrh66\row}}}
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Net decrease in cash and cash equivalents\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (552,720\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (4,168,506\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Cash and cash equivalents, at beginning of period\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 9,180,916\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 8,293,504\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clvertalb\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh259
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh259\row}}}
{\trowd\clvertalc\cellx7721\clvertalc\cellx9260\clvertalc\cellx10799\trrh66
\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
{\trowd\clvertalc\cellx7721\clvertalc\cellx9260\clvertalc\cellx10799\trrh66\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Cash and cash equivalents, at end of period\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 8,628,196\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 4,124,998\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\clvertalb\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh281
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh281\row}}}
{\trowd\clvertalc\cellx7721\clvertalc\cellx9260\clvertalc\cellx10799\trrh66
\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
{\trowd\clvertalc\cellx7721\clvertalc\cellx9260\clvertalc\cellx10799\trrh66\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\b\ql Supplemental disclosure of cash flow information\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx7721\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8141\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9151\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9258\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9826\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10688\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh412
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Non-cash investing and financing activities\par\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Increase in deferred stock compensation\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 67,868\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 355,063\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh412\row}}}
{\trowd\clvertalb\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh281
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx7721\clvertalb\cellx8141\clvertalb\cellx8289\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9678\clvertalb\cellx9826\clvertalb\cellx10688\clvertalb\cellx10800\trrh281\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc The accompanying notes are an integral part of these financial statements.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 5
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\ul{\field{\*\fldinst HYPERLINK \\l "toc_2281309" }{\*\fldrslt\cf3\f52\fs16\b\ql Table of Contents}}{\*\bkmkstart tx20648_5_2281309}{\*\bkmkend tx20648_5_2281309}\par\pard\plain\cf1\f51\fs16\b\qc Seattle Genetics, Inc.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qc Notes to Financial Statements\par\pard\plain\cf1\f51\fs16\b\qc (Unaudited)\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\ql 1. Basis of presentation\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql The accompanying unaudited financial statements of Seattle Genetics, Inc. (\u8220?Seattle Genetics\u8221? or the \u8220?Company\u8221?) have\plain\cf1\f51\fs16\ql been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and\plain\cf1\f51\fs16\ql reflect all adjustments consisting of normal recurring adjustments which, in the opinion of management, are necessary for a fair presentation of the results\plain\cf1\f51\fs16\ql for the periods presented. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for\plain\cf1\f51\fs16\ql complete financial statements. The results of operations for such periods are not necessarily indicative of the results expected for the full calendar year or\plain\cf1\f51\fs16\ql for any future period.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql The balance sheet at December 31, 2002 has been derived from the audited financial statements at that date but does not include all of the\plain\cf1\f51\fs16\ql information and footnotes required by generally accepted accounting principles for complete financial statements. These financial statements should be read\plain\cf1\f51\fs16\ql in conjunction with the audited financial statements and footnotes included in the Company\u8217?s annual report on Form 10-K as filed with the\plain\cf1\f51\fs16\ql Securities and Exchange Commission.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and\plain\cf1\f51\fs16\ql assumptions that affect the reported amounts of assets and liabilities and the reported amounts of revenues and expenses during the reporting period.\plain\cf1\f51\fs16\ql Actual results could differ from those\~estimates.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\ql 2. Stock-based compensation\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql The Company accounts for stock-based employee compensation arrangements in accordance with the provisions of Accounting Principles Board\plain\cf1\f51\fs16\ql Opinion No. 25, \u8220?Accounting for Stock Issued to Employees\u8221? (APB No. 25) as interpreted by Financial Accounting Standards Board\plain\cf1\f51\fs16\ql Interpretation No. 44 and related interpretations and complies with the disclosure provisions of Statement of Financial Accounting Standards No. 123,\plain\cf1\f51\fs16\ql \u8220?Accounting for Stock-Based Compensation\u8221? (SFAS No. 123). Under APB No. 25 and related interpretations, compensation expense is\plain\cf1\f51\fs16\ql based on the difference, if any, of the fair value of the Company\u8217?s stock and the exercise price of the option as of the date of grant. These\plain\cf1\f51\fs16\ql differences are deferred and amortized in accordance with Financial Accounting Standards Board Interpretation No. 28, \u8220?Accounting for Stock\plain\cf1\f51\fs16\ql Appreciation Rights and Other Variable Stock Option or Award Plans\u8221? on an accelerated basis over the vesting period of the individual options.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql The Company accounts for equity instruments issued to nonemployees in accordance with the provisions of SFAS No. 123 and Emerging Issues\plain\cf1\f51\fs16\ql Task Force Issue No. 96-18, \u8220?Accounting for Equity Instruments That Are Issued to Other Than Employees for Acquiring or in Conjunction with\plain\cf1\f51\fs16\ql Selling, Goods or Services,\u8221? and related\~interpretations.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 6
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\ul{\field{\*\fldinst HYPERLINK \\l "toc_2281309" }{\*\fldrslt\cf3\f52\fs16\b\ql Table of Contents}}\par\pard\plain\cf1\f51\fs16\b\qc Seattle Genetics, Inc.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qc Notes to Financial Statements (Continued)\par\pard\plain\cf1\f51\fs16\b\qc (Unaudited)\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql The following table illustrates the effect on net loss and loss per share as if the fair value method had been applied to all outstanding and unvested\plain\cf1\f51\fs16\ql awards in each period:\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\clvertalb\cellx4867\clvertalb\cellx5285\clvertalb\cellx7619\clvertalb\cellx7726\clvertalb\cellx8142\clvertalb\cellx10690\clvertalb\cellx10800\trrh603
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc Three months ended\par\pard\plain\intbl\cf1\f51\fs13\b\qc June 30,\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc Six months ended\par\pard\plain\intbl\cf1\f51\fs13\b\qc June 30,\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell{
{\trowd\clvertalb\cellx4867\clvertalb\cellx5285\clvertalb\cellx7619\clvertalb\cellx7726\clvertalb\cellx8142\clvertalb\cellx10690\clvertalb\cellx10800\trrh603\row}}}
{\trowd\clvertalb\cellx4867\clvertalb\cellx5285\clvertalb\cellx6189\clvertalb\cellx6296\clvertalb\cellx6714\clvertalb\cellx7618\clvertalb\cellx7725\clvertalb\cellx8141\clvertalb\cellx9152\clvertalb\cellx9259\clvertalb\cellx9677\clvertalb\cellx10688\clvertalb\cellx10800\trrh506
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc 2003
\par\pard\plain\intbl\fs16\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc 2002
\par\pard\plain\intbl\fs16\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc 2003
\par\pard\plain\intbl\fs16\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc 2002
\par\pard\plain\intbl\fs16\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell{
{\trowd\clvertalb\cellx4867\clvertalb\cellx5285\clvertalb\cellx6189\clvertalb\cellx6296\clvertalb\cellx6714\clvertalb\cellx7618\clvertalb\cellx7725\clvertalb\cellx8141\clvertalb\cellx9152\clvertalb\cellx9259\clvertalb\cellx9677\clvertalb\cellx10688\clvertalb\cellx10800\trrh506\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4867\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5285\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5433\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6188\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6295\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6713\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6861\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7616\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7723\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8139\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8287\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9149\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9256\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9674\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9822\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Net loss\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (5,504,827\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (6,266,085\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (11,466,433\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (12,258,021\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4867\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5285\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5433\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6188\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6295\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6713\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6861\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7616\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7723\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8139\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8287\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9149\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9256\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9674\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9822\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\cellx4867\clvertalb\cellx5285\clvertalb\cellx5433\clvertalb\cellx6188\clvertalb\cellx6295\clvertalb\cellx6713\clvertalb\cellx6861\clvertalb\cellx7616\clvertalb\cellx7723\clvertalb\cellx8139\clvertalb\cellx8287\clvertalb\cellx9149\clvertalb\cellx9256\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh412
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Add: stock-based compensation under APB no. 25 included in\plain\intbl\li176\cf1\f51\fs16\ql reported net loss\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 406,561\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 786,122\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 805,853\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 1,615,757\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\cellx4867\clvertalb\cellx5285\clvertalb\cellx5433\clvertalb\cellx6188\clvertalb\cellx6295\clvertalb\cellx6713\clvertalb\cellx6861\clvertalb\cellx7616\clvertalb\cellx7723\clvertalb\cellx8139\clvertalb\cellx8287\clvertalb\cellx9149\clvertalb\cellx9256\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh412\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4867\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5285\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5433\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6188\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6295\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6713\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6861\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7616\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7723\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8139\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8287\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9149\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9256\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9674\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9822\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh412
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Deduct: total stock-based compensation expense determined under\plain\intbl\li176\cf1\f51\fs16\ql the fair value method\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (1,386,464\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (2,362,908\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (2,793,398\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (4,613,771\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4867\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5285\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5433\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6188\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6295\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6713\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6861\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7616\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7723\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8139\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8287\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9149\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9256\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9674\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9822\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh412\row}}}
{\trowd\clvertalb\cellx4867\clvertalb\cellx5285\clvertalb\cellx5433\clvertalb\cellx6188\clvertalb\cellx6295\clvertalb\cellx6713\clvertalb\cellx6861\clvertalb\cellx7616\clvertalb\cellx7723\clvertalb\cellx8139\clvertalb\cellx8287\clvertalb\cellx9149\clvertalb\cellx9256\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh259
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx4867\clvertalb\cellx5285\clvertalb\cellx5433\clvertalb\cellx6188\clvertalb\cellx6295\clvertalb\cellx6713\clvertalb\cellx6861\clvertalb\cellx7616\clvertalb\cellx7723\clvertalb\cellx8139\clvertalb\cellx8287\clvertalb\cellx9149\clvertalb\cellx9256\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh259\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4867\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5285\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5433\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6188\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6295\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6713\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6861\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7616\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7723\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8139\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8287\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9149\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9256\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9674\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9822\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Pro forma net loss\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (6,484,730\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (7,842,871\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (13,453,978\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (15,256,035\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4867\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5285\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5433\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6188\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6295\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6713\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6861\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7616\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7723\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8139\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8287\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9149\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9256\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9674\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9822\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\clvertalb\cellx4867\clvertalb\cellx5285\clvertalb\cellx5433\clvertalb\cellx6188\clvertalb\cellx6295\clvertalb\cellx6713\clvertalb\cellx6861\clvertalb\cellx7616\clvertalb\cellx7723\clvertalb\cellx8139\clvertalb\cellx8287\clvertalb\cellx9149\clvertalb\cellx9256\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh281
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx4867\clvertalb\cellx5285\clvertalb\cellx5433\clvertalb\cellx6188\clvertalb\cellx6295\clvertalb\cellx6713\clvertalb\cellx6861\clvertalb\cellx7616\clvertalb\cellx7723\clvertalb\cellx8139\clvertalb\cellx8287\clvertalb\cellx9149\clvertalb\cellx9256\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh281\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4867\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5285\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5433\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6188\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6295\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6713\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6861\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7616\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7723\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8139\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8287\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9149\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9256\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9674\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9822\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Basic and diluted net loss per share\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4867\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5285\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5433\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6188\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6295\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6713\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6861\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7616\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7723\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8139\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8287\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9149\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9256\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9674\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9822\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\cellx4867\clvertalb\cellx5285\clvertalb\cellx5433\clvertalb\cellx6188\clvertalb\cellx6295\clvertalb\cellx6713\clvertalb\cellx6861\clvertalb\cellx7616\clvertalb\cellx7723\clvertalb\cellx8139\clvertalb\cellx8287\clvertalb\cellx9149\clvertalb\cellx9256\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql As reported\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (0.18\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (0.21\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (0.37\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (0.41\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell{
{\trowd\cellx4867\clvertalb\cellx5285\clvertalb\cellx5433\clvertalb\cellx6188\clvertalb\cellx6295\clvertalb\cellx6713\clvertalb\cellx6861\clvertalb\cellx7616\clvertalb\cellx7723\clvertalb\cellx8139\clvertalb\cellx8287\clvertalb\cellx9149\clvertalb\cellx9256\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clvertalb\cellx4867\clvertalb\cellx5285\clvertalb\cellx5433\clvertalb\cellx6188\clvertalb\cellx6295\clvertalb\cellx6713\clvertalb\cellx6861\clvertalb\cellx7616\clvertalb\cellx7723\clvertalb\cellx8139\clvertalb\cellx8287\clvertalb\cellx9149\clvertalb\cellx9256\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh281
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx4867\clvertalb\cellx5285\clvertalb\cellx5433\clvertalb\cellx6188\clvertalb\cellx6295\clvertalb\cellx6713\clvertalb\cellx6861\clvertalb\cellx7616\clvertalb\cellx7723\clvertalb\cellx8139\clvertalb\cellx8287\clvertalb\cellx9149\clvertalb\cellx9256\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh281\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4867\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5285\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5433\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6188\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6295\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6713\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6861\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7616\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7723\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8139\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8287\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9149\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9256\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9674\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9822\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Pro forma\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (0.21\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (0.26\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (0.44\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (0.51\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4867\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5285\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5433\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6188\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6295\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6713\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6861\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7616\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7723\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8139\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8287\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9149\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9256\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9674\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9822\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\clvertalb\cellx4867\clvertalb\cellx5285\clvertalb\cellx5433\clvertalb\cellx6188\clvertalb\cellx6295\clvertalb\cellx6713\clvertalb\cellx6861\clvertalb\cellx7616\clvertalb\cellx7723\clvertalb\cellx8139\clvertalb\cellx8287\clvertalb\cellx9149\clvertalb\cellx9256\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh281
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx4867\clvertalb\cellx5285\clvertalb\cellx5433\clvertalb\cellx6188\clvertalb\cellx6295\clvertalb\cellx6713\clvertalb\cellx6861\clvertalb\cellx7616\clvertalb\cellx7723\clvertalb\cellx8139\clvertalb\cellx8287\clvertalb\cellx9149\clvertalb\cellx9256\clvertalb\cellx9674\clvertalb\cellx9822\clvertalb\cellx10684\clvertalb\cellx10800\trrh281\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\ql 3. Net loss per share\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Basic and diluted net loss per share has been computed using the weighted-average number of shares of common stock outstanding during the\plain\cf1\f51\fs16\ql period, less the weighted-average number of unvested shares of common stock issued that are subject to repurchase. The Company has excluded all\plain\cf1\f51\fs16\ql outstanding options to purchase common stock and common stock subject to repurchase from the calculation of diluted net loss per share, as such\plain\cf1\f51\fs16\ql securities are antidilutive for all periods presented.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql The following table presents the calculation of basic and diluted net loss per share:\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\clvertalb\cellx4861\clvertalb\cellx5274\clvertalb\cellx7632\clvertalb\cellx7739\clvertalb\cellx8150\clvertalb\cellx10691\clvertalb\cellx10800\trrh603
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc Three months ended\par\pard\plain\intbl\cf1\f51\fs13\b\qc June 30,\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc Six months ended\par\pard\plain\intbl\cf1\f51\fs13\b\qc June 30,\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell{
{\trowd\clvertalb\cellx4861\clvertalb\cellx5274\clvertalb\cellx7632\clvertalb\cellx7739\clvertalb\cellx8150\clvertalb\cellx10691\clvertalb\cellx10800\trrh603\row}}}
{\trowd\clvertalb\cellx4861\clvertalb\cellx5274\clvertalb\cellx6192\clvertalb\cellx6299\clvertalb\cellx6711\clvertalb\cellx7629\clvertalb\cellx7736\clvertalb\cellx8147\clvertalb\cellx9157\clvertalb\cellx9264\clvertalb\cellx9676\clvertalb\cellx10686\clvertalb\cellx10800\trrh506
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc 2003
\par\pard\plain\intbl\fs16\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc 2002
\par\pard\plain\intbl\fs16\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc 2003
\par\pard\plain\intbl\fs16\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc 2002
\par\pard\plain\intbl\fs16\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell{
{\trowd\clvertalb\cellx4861\clvertalb\cellx5274\clvertalb\cellx6192\clvertalb\cellx6299\clvertalb\cellx6711\clvertalb\cellx7629\clvertalb\cellx7736\clvertalb\cellx8147\clvertalb\cellx9157\clvertalb\cellx9264\clvertalb\cellx9676\clvertalb\cellx10686\clvertalb\cellx10800\trrh506\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4861\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5274\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5422\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6192\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6299\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6711\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6859\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7629\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7736\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8147\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8295\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9156\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9263\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9675\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9823\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Net loss\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (5,504,827\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (6,266,085\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (11,466,433\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (12,258,021\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4861\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5274\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5422\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6192\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6299\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6711\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6859\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7629\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7736\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8147\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8295\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9156\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9263\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9675\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9823\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\cellx4861\clvertalb\cellx5274\clvertalb\cellx5422\clvertalb\cellx6192\clvertalb\cellx6299\clvertalb\cellx6711\clvertalb\cellx6859\clvertalb\cellx7629\clvertalb\cellx7736\clvertalb\cellx8147\clvertalb\cellx8295\clvertalb\cellx9156\clvertalb\cellx9263\clvertalb\cellx9675\clvertalb\cellx9823\clvertalb\cellx10684\clvertalb\cellx10800\trrh413
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Weighted-average shares used in computing basic and diluted net\plain\intbl\li176\cf1\f51\fs16\ql loss per share\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 30,618,987\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 30,184,006\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 30,584,599\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 29,848,057\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\cellx4861\clvertalb\cellx5274\clvertalb\cellx5422\clvertalb\cellx6192\clvertalb\cellx6299\clvertalb\cellx6711\clvertalb\cellx6859\clvertalb\cellx7629\clvertalb\cellx7736\clvertalb\cellx8147\clvertalb\cellx8295\clvertalb\cellx9156\clvertalb\cellx9263\clvertalb\cellx9675\clvertalb\cellx9823\clvertalb\cellx10684\clvertalb\cellx10800\trrh413\row}}}
{\trowd\clvertalb\cellx4861\clvertalb\cellx5274\clvertalb\cellx5422\clvertalb\cellx6192\clvertalb\cellx6299\clvertalb\cellx6711\clvertalb\cellx6859\clvertalb\cellx7629\clvertalb\cellx7736\clvertalb\cellx8147\clvertalb\cellx8295\clvertalb\cellx9156\clvertalb\cellx9263\clvertalb\cellx9675\clvertalb\cellx9823\clvertalb\cellx10684\clvertalb\cellx10800\trrh281
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx4861\clvertalb\cellx5274\clvertalb\cellx5422\clvertalb\cellx6192\clvertalb\cellx6299\clvertalb\cellx6711\clvertalb\cellx6859\clvertalb\cellx7629\clvertalb\cellx7736\clvertalb\cellx8147\clvertalb\cellx8295\clvertalb\cellx9156\clvertalb\cellx9263\clvertalb\cellx9675\clvertalb\cellx9823\clvertalb\cellx10684\clvertalb\cellx10800\trrh281\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4861\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5274\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5422\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6192\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6299\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6711\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6859\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7629\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7736\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8147\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8295\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9156\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9263\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9675\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9823\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Basic and diluted net loss per share\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (0.18\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (0.21\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (0.37\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (0.41\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4861\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5274\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5422\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6192\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6299\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6711\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6859\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7629\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7736\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8147\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8295\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9156\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9263\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9675\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9823\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\clvertalb\cellx4861\clvertalb\cellx5274\clvertalb\cellx5422\clvertalb\cellx6192\clvertalb\cellx6299\clvertalb\cellx6711\clvertalb\cellx6859\clvertalb\cellx7629\clvertalb\cellx7736\clvertalb\cellx8147\clvertalb\cellx8295\clvertalb\cellx9156\clvertalb\cellx9263\clvertalb\cellx9675\clvertalb\cellx9823\clvertalb\cellx10684\clvertalb\cellx10800\trrh281
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx4861\clvertalb\cellx5274\clvertalb\cellx5422\clvertalb\cellx6192\clvertalb\cellx6299\clvertalb\cellx6711\clvertalb\cellx6859\clvertalb\cellx7629\clvertalb\cellx7736\clvertalb\cellx8147\clvertalb\cellx8295\clvertalb\cellx9156\clvertalb\cellx9263\clvertalb\cellx9675\clvertalb\cellx9823\clvertalb\cellx10684\clvertalb\cellx10800\trrh281\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4861\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5274\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5422\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6192\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6299\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6711\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6859\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7629\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7736\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8147\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8295\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9156\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9263\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9675\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9823\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Antidilutive securities not included in net loss per share calculation\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4861\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5274\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5422\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6192\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6299\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6711\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6859\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7629\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7736\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8147\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8295\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9156\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9263\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9675\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9823\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\cellx4861\clvertalb\cellx5274\clvertalb\cellx5422\clvertalb\cellx6192\clvertalb\cellx6299\clvertalb\cellx6711\clvertalb\cellx6859\clvertalb\cellx7629\clvertalb\cellx7736\clvertalb\cellx8147\clvertalb\cellx8295\clvertalb\cellx9156\clvertalb\cellx9263\clvertalb\cellx9675\clvertalb\cellx9823\clvertalb\cellx10684\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Options to purchase common stock\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 4,155,540\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 3,607,185\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 4,155,540\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 3,607,185\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\cellx4861\clvertalb\cellx5274\clvertalb\cellx5422\clvertalb\cellx6192\clvertalb\cellx6299\clvertalb\cellx6711\clvertalb\cellx6859\clvertalb\cellx7629\clvertalb\cellx7736\clvertalb\cellx8147\clvertalb\cellx8295\clvertalb\cellx9156\clvertalb\cellx9263\clvertalb\cellx9675\clvertalb\cellx9823\clvertalb\cellx10684\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4861\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5274\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5422\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6192\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6299\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6711\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6859\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7629\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7736\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8147\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8295\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9156\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9263\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9675\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9823\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Restricted shares of common stock subject to repurchase\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 151,148\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 305,003\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 151,148\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 305,003\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4861\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5274\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5422\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6192\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6299\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6711\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6859\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7629\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7736\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8147\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8295\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9156\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9263\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9675\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9823\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\clvertalb\cellx4861\clvertalb\cellx5274\clvertalb\cellx5422\clvertalb\cellx6192\clvertalb\cellx6299\clvertalb\cellx6711\clvertalb\cellx6859\clvertalb\cellx7629\clvertalb\cellx7736\clvertalb\cellx8147\clvertalb\cellx8295\clvertalb\cellx9156\clvertalb\cellx9263\clvertalb\cellx9675\clvertalb\cellx9823\clvertalb\cellx10684\clvertalb\cellx10800\trrh259
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx4861\clvertalb\cellx5274\clvertalb\cellx5422\clvertalb\cellx6192\clvertalb\cellx6299\clvertalb\cellx6711\clvertalb\cellx6859\clvertalb\cellx7629\clvertalb\cellx7736\clvertalb\cellx8147\clvertalb\cellx8295\clvertalb\cellx9156\clvertalb\cellx9263\clvertalb\cellx9675\clvertalb\cellx9823\clvertalb\cellx10684\clvertalb\cellx10800\trrh259\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4861\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5274\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5422\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6192\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6299\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6711\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6859\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7629\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7736\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8147\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8295\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9156\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9263\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9675\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9823\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li968\fi-176\cf1\f51\fs16\ql Total\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 4,306,688\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 3,912,188\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 4,306,688\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 3,912,188\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4861\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5274\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5422\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6192\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6299\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6711\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6859\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7629\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7736\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8147\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8295\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9156\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9263\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9675\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9823\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10684\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\clvertalb\cellx4861\clvertalb\cellx5274\clvertalb\cellx5422\clvertalb\cellx6192\clvertalb\cellx6299\clvertalb\cellx6711\clvertalb\cellx6859\clvertalb\cellx7629\clvertalb\cellx7736\clvertalb\cellx8147\clvertalb\cellx8295\clvertalb\cellx9156\clvertalb\cellx9263\clvertalb\cellx9675\clvertalb\cellx9823\clvertalb\cellx10684\clvertalb\cellx10800\trrh281
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx4861\clvertalb\cellx5274\clvertalb\cellx5422\clvertalb\cellx6192\clvertalb\cellx6299\clvertalb\cellx6711\clvertalb\cellx6859\clvertalb\cellx7629\clvertalb\cellx7736\clvertalb\cellx8147\clvertalb\cellx8295\clvertalb\cellx9156\clvertalb\cellx9263\clvertalb\cellx9675\clvertalb\cellx9823\clvertalb\cellx10684\clvertalb\cellx10800\trrh281\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 7
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\ul{\field{\*\fldinst HYPERLINK \\l "toc_2281309" }{\*\fldrslt\cf3\f52\fs16\b\ql Table of Contents}}\par\pard\plain\cf1\f51\fs16\b\qc Seattle Genetics, Inc.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qc Notes to Financial Statements (Continued)\par\pard\plain\cf1\f51\fs16\b\qc (Unaudited)\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\ql 4. Comprehensive loss\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Comprehensive loss includes certain changes in equity that are excluded from net loss. Specifically, unrealized holding gains or losses in available\plain\cf1\f51\fs16\ql for sale investments, which were reported separately in stockholders\u8217? equity, are included in accumulated other comprehensive loss. Comprehensive\plain\cf1\f51\fs16\ql loss and its components were as follows:\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\clvertalb\cellx4868\clvertalb\cellx5285\clvertalb\cellx7618\clvertalb\cellx7725\clvertalb\cellx8141\clvertalb\cellx10688\clvertalb\cellx10800\trrh603
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc Three months ended\par\pard\plain\intbl\cf1\f51\fs13\b\qc June 30,\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc Six months ended\par\pard\plain\intbl\cf1\f51\fs13\b\qc June 30,\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell{
{\trowd\clvertalb\cellx4868\clvertalb\cellx5285\clvertalb\cellx7618\clvertalb\cellx7725\clvertalb\cellx8141\clvertalb\cellx10688\clvertalb\cellx10800\trrh603\row}}}
{\trowd\clvertalb\cellx4868\clvertalb\cellx5285\clvertalb\cellx6189\clvertalb\cellx6296\clvertalb\cellx6713\clvertalb\cellx7617\clvertalb\cellx7724\clvertalb\cellx8140\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9675\clvertalb\cellx10686\clvertalb\cellx10800\trrh506
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc 2003
\par\pard\plain\intbl\fs16\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc 2002
\par\pard\plain\intbl\fs16\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc 2003
\par\pard\plain\intbl\fs16\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc 2002
\par\pard\plain\intbl\fs16\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell{
{\trowd\clvertalb\cellx4868\clvertalb\cellx5285\clvertalb\cellx6189\clvertalb\cellx6296\clvertalb\cellx6713\clvertalb\cellx7617\clvertalb\cellx7724\clvertalb\cellx8140\clvertalb\cellx9151\clvertalb\cellx9258\clvertalb\cellx9675\clvertalb\cellx10686\clvertalb\cellx10800\trrh506\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4868\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5285\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5433\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6188\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6295\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6712\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6860\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7615\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7722\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8138\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8286\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9148\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9255\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9672\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9820\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10682\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Net loss\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (5,504,827\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (6,266,085\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (11,466,433\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (12,258,021\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4868\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5285\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5433\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6188\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6295\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6712\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6860\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7615\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7722\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8138\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8286\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9148\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9255\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9672\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9820\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10682\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\cellx4868\clvertalb\cellx5285\clvertalb\cellx5433\clvertalb\cellx6188\clvertalb\cellx6295\clvertalb\cellx6712\clvertalb\cellx6860\clvertalb\cellx7615\clvertalb\cellx7722\clvertalb\cellx8138\clvertalb\cellx8286\clvertalb\cellx9148\clvertalb\cellx9255\clvertalb\cellx9672\clvertalb\cellx9820\clvertalb\cellx10682\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Unrealized loss on securities available for sale\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (15,737\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (21,192\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (88,964\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (237,403\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell{
{\trowd\cellx4868\clvertalb\cellx5285\clvertalb\cellx5433\clvertalb\cellx6188\clvertalb\cellx6295\clvertalb\cellx6712\clvertalb\cellx6860\clvertalb\cellx7615\clvertalb\cellx7722\clvertalb\cellx8138\clvertalb\cellx8286\clvertalb\cellx9148\clvertalb\cellx9255\clvertalb\cellx9672\clvertalb\cellx9820\clvertalb\cellx10682\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clvertalb\cellx4868\clvertalb\cellx5285\clvertalb\cellx5433\clvertalb\cellx6188\clvertalb\cellx6295\clvertalb\cellx6712\clvertalb\cellx6860\clvertalb\cellx7615\clvertalb\cellx7722\clvertalb\cellx8138\clvertalb\cellx8286\clvertalb\cellx9148\clvertalb\cellx9255\clvertalb\cellx9672\clvertalb\cellx9820\clvertalb\cellx10682\clvertalb\cellx10800\trrh259
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx4868\clvertalb\cellx5285\clvertalb\cellx5433\clvertalb\cellx6188\clvertalb\cellx6295\clvertalb\cellx6712\clvertalb\cellx6860\clvertalb\cellx7615\clvertalb\cellx7722\clvertalb\cellx8138\clvertalb\cellx8286\clvertalb\cellx9148\clvertalb\cellx9255\clvertalb\cellx9672\clvertalb\cellx9820\clvertalb\cellx10682\clvertalb\cellx10800\trrh259\row}}}
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4868\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5285\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5433\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6188\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6295\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6712\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6860\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7615\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7722\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8138\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8286\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9148\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9255\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9672\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9820\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10682\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Comprehensive loss\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (5,520,564\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (6,287,277\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (11,555,397\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr (12,495,424\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell{
{\trowd\clshdng100\clcfpat11\clcbpat11\cellx4868\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5285\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5433\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6188\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6295\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6712\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6860\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7615\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7722\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8138\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8286\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9148\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9255\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9672\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9820\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10682\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx10800\trrh206\row}}}
{\trowd\clvertalb\cellx4868\clvertalb\cellx5285\clvertalb\cellx5433\clvertalb\cellx6188\clvertalb\cellx6295\clvertalb\cellx6712\clvertalb\cellx6860\clvertalb\cellx7615\clvertalb\cellx7722\clvertalb\cellx8138\clvertalb\cellx8286\clvertalb\cellx9148\clvertalb\cellx9255\clvertalb\cellx9672\clvertalb\cellx9820\clvertalb\cellx10682\clvertalb\cellx10800\trrh281
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\clvertalb\cellx4868\clvertalb\cellx5285\clvertalb\cellx5433\clvertalb\cellx6188\clvertalb\cellx6295\clvertalb\cellx6712\clvertalb\cellx6860\clvertalb\cellx7615\clvertalb\cellx7722\clvertalb\cellx8138\clvertalb\cellx8286\clvertalb\cellx9148\clvertalb\cellx9255\clvertalb\cellx9672\clvertalb\cellx9820\clvertalb\cellx10682\clvertalb\cellx10800\trrh281\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\ql 5. Investments\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Investments, classified as available-for-sale, consist of the following:\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\trqc\clvertalb\cellx6489\clvertalb\cellx6665\clvertalb\cellx7783\clvertalb\cellx7959\clvertalb\cellx9177\trrh774
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc Fair Value\par\pard\plain\intbl\cf1\f51\fs13\b\qc June 30,\par\pard\plain\intbl\cf1\f51\fs13\b\qc 2003\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc Fair Value\par\pard\plain\intbl\cf1\f51\fs13\b\qc December 31,\par\pard\plain\intbl\cf1\f51\fs13\b\qc 2002\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\trqc\clvertalb\cellx6489\clvertalb\cellx6665\clvertalb\cellx7783\clvertalb\cellx7959\clvertalb\cellx9177\trrh774\row}}}
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6489\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6665\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6875\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7782\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7958\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8268\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Mortgage-backed securities\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 18,456,057\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 17,839,089\cell{
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6489\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6665\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6875\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7782\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7958\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8268\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206\row}}}
{\trowd\trqc\cellx6489\clvertalb\cellx6665\clvertalb\cellx6875\clvertalb\cellx7782\clvertalb\cellx7958\clvertalb\cellx8268\clvertalb\cellx9180\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql U.S. corporate obligations\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 3,985,759\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 12,167,104\cell{
{\trowd\trqc\cellx6489\clvertalb\cellx6665\clvertalb\cellx6875\clvertalb\cellx7782\clvertalb\cellx7958\clvertalb\cellx8268\clvertalb\cellx9180\trrh206\row}}}
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6489\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6665\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6875\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7782\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7958\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8268\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql U.S. government and agencies\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 2,040,422\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 6,012,121\cell{
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6489\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6665\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6875\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7782\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7958\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8268\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206\row}}}
{\trowd\trqc\clvertalb\cellx6489\clvertalb\cellx6665\clvertalb\cellx6875\clvertalb\cellx7782\clvertalb\cellx7958\clvertalb\cellx8268\clvertalb\cellx9180\trrh259
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\trqc\clvertalb\cellx6489\clvertalb\cellx6665\clvertalb\cellx6875\clvertalb\cellx7782\clvertalb\cellx7958\clvertalb\cellx8268\clvertalb\cellx9180\trrh259\row}}}
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6489\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6665\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6875\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7782\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7958\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8268\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206
\pard\plain\intbl\li968\fi-176\cf1\f51\fs16\ql Total\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 24,482,238\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 36,018,314\cell{
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6489\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6665\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6875\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7782\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7958\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8268\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206\row}}}
{\trowd\trqc\clvertalb\cellx6489\clvertalb\cellx6665\clvertalb\cellx6875\clvertalb\cellx7782\clvertalb\cellx7958\clvertalb\cellx8268\clvertalb\cellx9180\trrh281
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\trqc\clvertalb\cellx6489\clvertalb\cellx6665\clvertalb\cellx6875\clvertalb\cellx7782\clvertalb\cellx7958\clvertalb\cellx8268\clvertalb\cellx9180\trrh281\row}}}
{\trowd\trqc\clvertalc\cellx6489\clvertalc\cellx7784\clvertalc\cellx9179\trrh66
\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
{\trowd\trqc\clvertalc\cellx6489\clvertalc\cellx7784\clvertalc\cellx9179\trrh66\row}}}
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6489\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6665\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6875\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7782\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7958\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8268\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Reported as:\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell{
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6489\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6665\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6875\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7782\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7958\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8268\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206\row}}}
{\trowd\trqc\cellx6489\clvertalb\cellx6665\clvertalb\cellx6875\clvertalb\cellx7782\clvertalb\cellx7958\clvertalb\cellx8268\clvertalb\cellx9180\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Short-term investments\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 5,039,849\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 17,198,934\cell{
{\trowd\trqc\cellx6489\clvertalb\cellx6665\clvertalb\cellx6875\clvertalb\cellx7782\clvertalb\cellx7958\clvertalb\cellx8268\clvertalb\cellx9180\trrh206\row}}}
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6489\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6665\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6875\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7782\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7958\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8268\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Long-term investments\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 18,456,057\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 17,839,089\cell{
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6489\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6665\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6875\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7782\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7958\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8268\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206\row}}}
{\trowd\trqc\cellx6489\clvertalb\cellx6665\clvertalb\cellx6875\clvertalb\cellx7782\clvertalb\cellx7958\clvertalb\cellx8268\clvertalb\cellx9180\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Restricted investments\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 986,332\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 980,291\cell{
{\trowd\trqc\cellx6489\clvertalb\cellx6665\clvertalb\cellx6875\clvertalb\cellx7782\clvertalb\cellx7958\clvertalb\cellx8268\clvertalb\cellx9180\trrh206\row}}}
{\trowd\trqc\clvertalb\cellx6489\clvertalb\cellx6665\clvertalb\cellx6875\clvertalb\cellx7782\clvertalb\cellx7958\clvertalb\cellx8268\clvertalb\cellx9180\trrh259
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\trqc\clvertalb\cellx6489\clvertalb\cellx6665\clvertalb\cellx6875\clvertalb\cellx7782\clvertalb\cellx7958\clvertalb\cellx8268\clvertalb\cellx9180\trrh259\row}}}
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6489\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6665\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6875\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7782\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7958\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8268\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206
\pard\plain\intbl\li968\fi-176\cf1\f51\fs16\ql Total\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 24,482,238\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 36,018,314\cell{
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6489\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6665\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6875\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7782\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7958\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8268\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206\row}}}
{\trowd\trqc\clvertalb\cellx6489\clvertalb\cellx6665\clvertalb\cellx6875\clvertalb\cellx7782\clvertalb\cellx7958\clvertalb\cellx8268\clvertalb\cellx9180\trrh281
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\trqc\clvertalb\cellx6489\clvertalb\cellx6665\clvertalb\cellx6875\clvertalb\cellx7782\clvertalb\cellx7958\clvertalb\cellx8268\clvertalb\cellx9180\trrh281\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\ql 6. Prepaid expenses and other current assets\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Prepaid expenses and other current assets consists of the following:\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\trqc\clvertalb\cellx6803\clvertalb\cellx6980\clvertalb\cellx7949\clvertalb\cellx8126\clvertalb\cellx9178\trrh602
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc June 30,\par\pard\plain\intbl\cf1\f51\fs13\b\qc 2003\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc December\~31,\par\pard\plain\intbl\cf1\f51\fs13\b\qc 2002\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\trqc\clvertalb\cellx6803\clvertalb\cellx6980\clvertalb\cellx7949\clvertalb\cellx8126\clvertalb\cellx9178\trrh602\row}}}
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6803\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6980\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7132\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7948\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8125\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8539\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Insurance\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 437,334\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 91,514\cell{
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6803\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6980\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7132\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7948\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8125\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8539\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206\row}}}
{\trowd\trqc\cellx6803\clvertalb\cellx6980\clvertalb\cellx7132\clvertalb\cellx7948\clvertalb\cellx8125\clvertalb\cellx8539\clvertalb\cellx9180\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Private placement costs\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 323,564\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr \u8212?\cell{
{\trowd\trqc\cellx6803\clvertalb\cellx6980\clvertalb\cellx7132\clvertalb\cellx7948\clvertalb\cellx8125\clvertalb\cellx8539\clvertalb\cellx9180\trrh206\row}}}
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6803\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6980\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7132\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7948\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8125\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8539\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Service contracts\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 107,604\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 106,430\cell{
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6803\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6980\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7132\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7948\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8125\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8539\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206\row}}}
{\trowd\trqc\cellx6803\clvertalb\cellx6980\clvertalb\cellx7132\clvertalb\cellx7948\clvertalb\cellx8125\clvertalb\cellx8539\clvertalb\cellx9180\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Amounts due under collaboration agreements\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 51,946\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 66,596\cell{
{\trowd\trqc\cellx6803\clvertalb\cellx6980\clvertalb\cellx7132\clvertalb\cellx7948\clvertalb\cellx8125\clvertalb\cellx8539\clvertalb\cellx9180\trrh206\row}}}
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6803\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6980\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7132\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7948\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8125\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8539\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Employee benefits\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 50,629\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 15,903\cell{
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6803\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6980\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7132\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7948\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8125\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8539\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206\row}}}
{\trowd\trqc\cellx6803\clvertalb\cellx6980\clvertalb\cellx7132\clvertalb\cellx7948\clvertalb\cellx8125\clvertalb\cellx8539\clvertalb\cellx9180\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql License fees paid in advance\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 37,825\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 40,000\cell{
{\trowd\trqc\cellx6803\clvertalb\cellx6980\clvertalb\cellx7132\clvertalb\cellx7948\clvertalb\cellx8125\clvertalb\cellx8539\clvertalb\cellx9180\trrh206\row}}}
{\trowd\trqc\clvertalb\cellx6803\clvertalb\cellx6980\clvertalb\cellx7132\clvertalb\cellx7948\clvertalb\cellx8125\clvertalb\cellx8539\clvertalb\cellx9180\trrh259
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\trqc\clvertalb\cellx6803\clvertalb\cellx6980\clvertalb\cellx7132\clvertalb\cellx7948\clvertalb\cellx8125\clvertalb\cellx8539\clvertalb\cellx9180\trrh259\row}}}
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6803\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6980\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7132\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7948\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8125\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8539\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Total\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 1,008,902\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 320,443\cell{
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6803\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6980\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7132\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7948\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8125\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8539\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206\row}}}
{\trowd\trqc\clvertalb\cellx6803\clvertalb\cellx6980\clvertalb\cellx7132\clvertalb\cellx7948\clvertalb\cellx8125\clvertalb\cellx8539\clvertalb\cellx9180\trrh281
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\trqc\clvertalb\cellx6803\clvertalb\cellx6980\clvertalb\cellx7132\clvertalb\cellx7948\clvertalb\cellx8125\clvertalb\cellx8539\clvertalb\cellx9180\trrh281\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 8
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\ul{\field{\*\fldinst HYPERLINK \\l "toc_2281309" }{\*\fldrslt\cf3\f52\fs16\b\ql Table of Contents}}\par\pard\plain\cf1\f51\fs16\b\qc Seattle Genetics, Inc.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qc Notes to Financial Statements (Continued)\par\pard\plain\cf1\f51\fs16\b\qc (Unaudited)\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\ql 7. Property and equipment\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Property and equipment consists of the following:\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\trqc\clvertalb\cellx6525\clvertalb\cellx6784\clvertalb\cellx7678\clvertalb\cellx7773\clvertalb\cellx8029\clvertalb\cellx9081\clvertalb\cellx9180\trrh603
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc June 30,\par\pard\plain\intbl\cf1\f51\fs13\b\qc 2003\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc December 31,\par\pard\plain\intbl\cf1\f51\fs13\b\qc 2002\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell{
{\trowd\trqc\clvertalb\cellx6525\clvertalb\cellx6784\clvertalb\cellx7678\clvertalb\cellx7773\clvertalb\cellx8029\clvertalb\cellx9081\clvertalb\cellx9180\trrh603\row}}}
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6525\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6784\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6936\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7773\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8029\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8339\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9081\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Leasehold improvements\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 3,832,009\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 3,822,059\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6525\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6784\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6936\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7773\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8029\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8339\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9081\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206\row}}}
{\trowd\trqc\cellx6525\clvertalb\cellx6784\clvertalb\cellx6936\clvertalb\cellx7678\clvertalb\cellx7773\clvertalb\cellx8029\clvertalb\cellx8339\clvertalb\cellx9081\clvertalb\cellx9180\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Laboratory equipment\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 3,092,719\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 2,928,038\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\trqc\cellx6525\clvertalb\cellx6784\clvertalb\cellx6936\clvertalb\cellx7678\clvertalb\cellx7773\clvertalb\cellx8029\clvertalb\cellx8339\clvertalb\cellx9081\clvertalb\cellx9180\trrh206\row}}}
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6525\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6784\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6936\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7773\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8029\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8339\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9081\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Furniture and fixtures\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 854,904\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 850,915\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6525\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6784\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6936\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7773\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8029\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8339\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9081\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206\row}}}
{\trowd\trqc\cellx6525\clvertalb\cellx6784\clvertalb\cellx6936\clvertalb\cellx7678\clvertalb\cellx7773\clvertalb\cellx8029\clvertalb\cellx8339\clvertalb\cellx9081\clvertalb\cellx9180\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Computers and office equipment\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 819,912\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 754,529\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\trqc\cellx6525\clvertalb\cellx6784\clvertalb\cellx6936\clvertalb\cellx7678\clvertalb\cellx7773\clvertalb\cellx8029\clvertalb\cellx8339\clvertalb\cellx9081\clvertalb\cellx9180\trrh206\row}}}
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6525\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6784\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6936\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7773\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8029\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8339\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9081\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Vehicles\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 4,683\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 4,683\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6525\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6784\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6936\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7773\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8029\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8339\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9081\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206\row}}}
{\trowd\trqc\clvertalb\cellx6525\clvertalb\cellx6784\clvertalb\cellx6936\clvertalb\cellx7678\clvertalb\cellx7773\clvertalb\cellx8029\clvertalb\cellx8339\clvertalb\cellx9081\clvertalb\cellx9180\trrh259
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\trqc\clvertalb\cellx6525\clvertalb\cellx6784\clvertalb\cellx6936\clvertalb\cellx7678\clvertalb\cellx7773\clvertalb\cellx8029\clvertalb\cellx8339\clvertalb\cellx9081\clvertalb\cellx9180\trrh259\row}}}
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6525\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6784\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6936\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7773\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8029\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8339\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9081\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 8,604,227\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 8,360,224\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6525\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6784\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6936\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7773\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8029\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8339\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9081\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206\row}}}
{\trowd\trqc\cellx6525\clvertalb\cellx6784\clvertalb\cellx6936\clvertalb\cellx7678\clvertalb\cellx7773\clvertalb\cellx8029\clvertalb\cellx8339\clvertalb\cellx9081\clvertalb\cellx9180\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Less: accumulated depreciation and amortization\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (2,784,436\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr (2,123,954\cell\pard\plain\intbl\cf1\f51\fs16\ql )\cell{
{\trowd\trqc\cellx6525\clvertalb\cellx6784\clvertalb\cellx6936\clvertalb\cellx7678\clvertalb\cellx7773\clvertalb\cellx8029\clvertalb\cellx8339\clvertalb\cellx9081\clvertalb\cellx9180\trrh206\row}}}
{\trowd\trqc\clvertalb\cellx6525\clvertalb\cellx6784\clvertalb\cellx6936\clvertalb\cellx7678\clvertalb\cellx7773\clvertalb\cellx8029\clvertalb\cellx8339\clvertalb\cellx9081\clvertalb\cellx9180\trrh259
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\trqc\clvertalb\cellx6525\clvertalb\cellx6784\clvertalb\cellx6936\clvertalb\cellx7678\clvertalb\cellx7773\clvertalb\cellx8029\clvertalb\cellx8339\clvertalb\cellx9081\clvertalb\cellx9180\trrh259\row}}}
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6525\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6784\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6936\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7773\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8029\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8339\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9081\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206
\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Total\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 5,819,791\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 6,236,270\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell{
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6525\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6784\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6936\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7678\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7773\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8029\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8339\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9081\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206\row}}}
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\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\trqc\clvertalb\cellx6525\clvertalb\cellx6784\clvertalb\cellx6936\clvertalb\cellx7678\clvertalb\cellx7773\clvertalb\cellx8029\clvertalb\cellx8339\clvertalb\cellx9081\clvertalb\cellx9180\trrh281\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql In March 2003, the Company agreed to collateralize certain obligations under its office and laboratory lease agreement with the majority of its\plain\cf1\f51\fs16\ql property and equipment.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\ql 8. Accounts payable and accrued liabilities\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Accounts payable and accrued liabilities consists of the following:\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\trqc\clvertalb\cellx6624\clvertalb\cellx6801\clvertalb\cellx7770\clvertalb\cellx7947\clvertalb\cellx9178\trrh603
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc June 30,\par\pard\plain\intbl\cf1\f51\fs13\b\qc 2003\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc December\~31,\par\pard\plain\intbl\cf1\f51\fs13\b\qc 2002\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\trqc\clvertalb\cellx6624\clvertalb\cellx6801\clvertalb\cellx7770\clvertalb\cellx7947\clvertalb\cellx9178\trrh603\row}}}
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Compensation and benefits\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 686,231\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 248,605\cell{
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6624\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6801\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6953\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7769\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7946\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8360\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206\row}}}
{\trowd\trqc\cellx6624\clvertalb\cellx6801\clvertalb\cellx6953\clvertalb\cellx7769\clvertalb\cellx7946\clvertalb\cellx8360\clvertalb\cellx9180\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Trade accounts payable\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 659,472\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 1,315,991\cell{
{\trowd\trqc\cellx6624\clvertalb\cellx6801\clvertalb\cellx6953\clvertalb\cellx7769\clvertalb\cellx7946\clvertalb\cellx8360\clvertalb\cellx9180\trrh206\row}}}
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Clinical trial costs\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 519,807\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 575,843\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Franchise and local taxes\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 109,793\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qr 50,293\cell{
{\trowd\trqc\cellx6624\clvertalb\cellx6801\clvertalb\cellx6953\clvertalb\cellx7769\clvertalb\cellx7946\clvertalb\cellx8360\clvertalb\cellx9180\trrh206\row}}}
{\trowd\trqc\clvertalb\cellx6624\clvertalb\cellx6801\clvertalb\cellx6953\clvertalb\cellx7769\clvertalb\cellx7946\clvertalb\cellx8360\clvertalb\cellx9180\trrh259
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\trqc\clvertalb\cellx6624\clvertalb\cellx6801\clvertalb\cellx6953\clvertalb\cellx7769\clvertalb\cellx7946\clvertalb\cellx8360\clvertalb\cellx9180\trrh259\row}}}
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\pard\plain\intbl\li572\fi-176\cf1\f51\fs16\ql Total\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 1,975,303\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 2,190,732\cell{
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6624\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6801\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6953\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7769\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7946\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8360\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206\row}}}
{\trowd\trqc\clvertalb\cellx6624\clvertalb\cellx6801\clvertalb\cellx6953\clvertalb\cellx7769\clvertalb\cellx7946\clvertalb\cellx8360\clvertalb\cellx9180\trrh281
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\trqc\clvertalb\cellx6624\clvertalb\cellx6801\clvertalb\cellx6953\clvertalb\cellx7769\clvertalb\cellx7946\clvertalb\cellx8360\clvertalb\cellx9180\trrh281\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\ql 9. Commitments and contingencies\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql As part of the terms of its operating lease for office and laboratory space, the Company has collateralized certain obligations under the lease with\plain\cf1\f51\fs16\ql $986,000 of its investments and the majority of its property and equipment. These investment securities are restricted as to withdrawal and are managed\plain\cf1\f51\fs16\ql by a third party. Beginning in 2005, the lease terms provide for decreases in the restricted investment account balance on an annual basis. However, in the\plain\cf1\f51\fs16\ql event that the Company\u8217?s market capitalization, stockholders\u8217? equity or cash and investments balance fall below specific thresholds, the\plain\cf1\f51\fs16\ql Company will be obligated to increase its restricted investment balance to approximately $3.4 million. As of June 30, 2003, the Company\u8217?s market\plain\cf1\f51\fs16\ql capitalization, stockholders\u8217? equity and cash and investments balances were in excess of the required thresholds.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\ql 10. Subsequent event\u8212?Series A convertible preferred stock financing\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql On July 8, 2003 the Company completed a $41.0 million private placement of 1,640,000 shares of newly designated Series A convertible preferred\plain\cf1\f51\fs16\ql stock at a purchase price of $25.00 per share. Each share of Series A convertible preferred stock is convertible into 10 shares of common stock at a\plain\cf1\f51\fs16\ql conversion price of $2.50 per share. In addition, the purchasers of the Series A convertible preferred stock received warrants to purchase 2,050,000 shares\plain\cf1\f51\fs16\ql of common stock with an exercise price of $6.25 per share and an expiration date of December 31, 2011. J.P. Morgan Partners, LLC and Baker Brothers\plain\cf1\f51\fs16\ql Investments led the private placement, with additional participation by Delphi Ventures, BA Venture Partners and T. Rowe Price Health Sciences Fund.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 9
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\ul{\field{\*\fldinst HYPERLINK \\l "toc_2281309" }{\*\fldrslt\cf3\f52\fs16\b\ql Table of Contents}}\par\pard\plain\cf1\f51\fs16\b\qc Seattle Genetics, Inc.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qc Notes to Financial Statements (Continued)\par\pard\plain\cf1\f51\fs16\b\qc (Unaudited)\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql The Series A convertible preferred stock is entitled to receive a liquidation preference in an amount equal to the greater of: (a) $25.00 per share of\plain\cf1\f51\fs16\ql Series A convertible preferred stock; or (b) the amount that would have been paid had such share of Series A convertible preferred stock been converted\plain\cf1\f51\fs16\ql to common stock. The Series A convertible preferred stock is also entitled to vote separately as a class on certain types of corporate transactions and has\plain\cf1\f51\fs16\ql the right to designate two individuals for election to the board of directors. Upon closing of the financing, Srinivas Akkaraju, M.D., Ph.D., Principal at\plain\cf1\f51\fs16\ql J.P. Morgan Partners, and Felix Baker, Ph.D., Managing Partner at Baker Brothers Investments, were appointed to the Company\u8217?s Board of\plain\cf1\f51\fs16\ql Directors, increasing the size of Seattle Genetics\u8217? Board to nine members. The Series A convertible preferred stock is not redeemable by the\plain\cf1\f51\fs16\ql holders thereof and does not bear any dividends. The rights, privileges and preferences of the Series A convertible preferred stock are set forth in the\plain\cf1\f51\fs16\ql Certificate of Designations of Series A Convertible Preferred Stock attached as an exhibit to the Company\u8217?s Form 8-K filed with the SEC on June\plain\cf1\f51\fs16\ql 5, 2003 and are more fully described in the Company\u8217?s definitive proxy statement filed with the SEC on June 9, 2003.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql The Company received approximately $40.4 million, net of $625,000 of issuance costs and estimated future registration costs, from the sale and\plain\cf1\f51\fs16\ql issuance of Series A convertible preferred stock and warrants. The Company will allocate $36.8 million of the net proceeds to the Series A convertible\plain\cf1\f51\fs16\ql preferred stock and $3.6 million to the warrants to purchase common stock based on their relative fair values on the date of issuance pursuant to\plain\cf1\f51\fs16\ql Accounting Principles Board Opinion No. 14 \u8220?Accounting for Convertible Debt and Debt Issued with Stock Purchase Warrants.\u8221? The fair\plain\cf1\f51\fs16\ql value used to allocate proceeds to the Series A convertible preferred stock will be based upon a valuation that considered, among other things, the closing\plain\cf1\f51\fs16\ql price of the common stock on the date of closing, the impact of the preferred stock on market capitalization on an as converted basis and liquidation\plain\cf1\f51\fs16\ql preferences. The fair value of the warrants to purchase common stock will be estimated using the Black Scholes option pricing model using the following\plain\cf1\f51\fs16\ql assumptions: exercise price $6.25; no dividends; term of approximately 8.5 years; risk free interest rate of 3.81%; and volatility of 86.7%.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql In accordance with the provisions of EITF 98-5 \u8220?Accounting for Convertible Securities with Beneficial Conversion Features or Contingently\plain\cf1\f51\fs16\ql Adjustable Conversion Ratios\u8221? and EITF 00-27 \u8220?Application of Issue No. 98-5 to Certain Convertible Instruments,\u8221? the Company\plain\cf1\f51\fs16\ql will separately assign a $36.8 million value to the embedded beneficial conversion feature of the Series A convertible preferred stock. The beneficial\plain\cf1\f51\fs16\ql conversion feature will be recorded as a discount to Series A convertible preferred stock with a corresponding increase to additional paid-in capital. The\plain\cf1\f51\fs16\ql beneficial conversion feature will represent the difference between the as-converted accounting value of the Series A convertible preferred stock as of the\plain\cf1\f51\fs16\ql original agreement date of May 12, 2003 and the fair value of the common stock as of the closing date of the transaction on July 8, 2003. The May 12,\plain\cf1\f51\fs16\ql 2003 as-converted value of the Series A convertible preferred stock will be based on the weighted-average price of the common stock for the 30 trading\plain\cf1\f51\fs16\ql days preceding May 12, 2003, as adjusted for the fair value allocation described above.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql The issuance of the Series A convertible preferred stock and the beneficial conversion feature will result in the recording of deemed dividends that\plain\cf1\f51\fs16\ql increase the recorded amount of Series A convertible preferred stock and reduce paid-in capital. These deemed dividends will be reported under a caption\plain\cf1\f51\fs16\ql \u8220?Non-cash preferred stock deemed dividend\u8221? and will represent an increase in net loss or a decrease in net income in arriving at net loss or\plain\cf1\f51\fs16\ql net income attributable to common stockholders. The beneficial conversion feature will be amortized using the effective yield method through the date of\plain\cf1\f51\fs16\ql earliest conversion, which is July 8, 2004. The Company estimates deemed dividends will be approximately $15,000 for the third quarter of 2003,\plain\cf1\f51\fs16\ql $186,000 for the fourth quarter of 2003, $2.2 million for the first quarter of 2004, $27.1 million for the second quarter of 2004 and $7.2 million for the\plain\cf1\f51\fs16\ql third quarter of 2004. These deemed dividends will have no effect on net income or loss or cash flows for the applicable reporting periods or impact total\plain\cf1\f51\fs16\ql stockholders\u8217? equity on the applicable reporting dates.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 10
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\ul{\field{\*\fldinst HYPERLINK \\l "toc_2281309" }{\*\fldrslt\cf3\f52\fs16\b\ql Table of Contents}}{\*\bkmkstart item_1_3_3}{\*\bkmkend item_1_3_3}{\*\bkmkstart tx20648_6_2281309}{\*\bkmkend tx20648_6_2281309}\par\pard\plain\cf1\f51\fs16\b\ql Item 2. Management\u8217?s Discussion and Analysis of Financial Condition and Results of Operations\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\ql Forward-Looking Statements\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql The following discussion of our financial condition and results of operations contains forward-looking statements within the meaning of Section\plain\cf1\f51\fs16\ql 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements relate to future events or our future\plain\cf1\f51\fs16\ql financial performance. In some cases, you can identify forward-looking statements by terminology such as may, will, should, expect, plan, anticipate,\plain\cf1\f51\fs16\ql believe, estimate, predict, potential or continue, the negative of terms like these or other comparable terminology. These statements are only predictions.\plain\cf1\f51\fs16\ql Actual events or results may differ materially. All forward-looking statements included in this document are based on information available to us on the\plain\cf1\f51\fs16\ql date hereof, and we assume no obligation to update any such forward-looking statements. In evaluating these statements, you should specifically consider\plain\cf1\f51\fs16\ql various factors, including the risks outlined under the caption \u8220?Important Factors That May Affect Our Business, Results of Operations and Stock\plain\cf1\f51\fs16\ql Price\u8221? set forth at the end of this Item 2 and those contained from time-to-time in our other filings with the SEC. We caution investors that our\plain\cf1\f51\fs16\ql business and financial performance are subject to substantial risks and uncertainties.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\ql Overview\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql We focus on the discovery and development of monoclonal antibody-based drugs to treat cancer and other human diseases. We have three\plain\cf1\f51\fs16\ql monoclonal antibody-based technologies: genetically engineered monoclonal antibodies; monoclonal antibody-drug conjugates (ADCs); and\plain\cf1\f51\fs16\ql antibody-directed enzyme prodrug therapy (ADEPT). Our technologies enable us to develop monoclonal antibodies that can kill cells on their own as well\plain\cf1\f51\fs16\ql as to increase the potency of monoclonal antibodies by enhancing their tumor cell-killing ability. Using our expertise in cancer and monoclonal antibody\plain\cf1\f51\fs16\ql technologies, we have constructed a diverse portfolio of product candidates. Our technologies also provide us with an opportunity to partner with other\plain\cf1\f51\fs16\ql companies that are developing monoclonal antibodies.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql We have two monoclonal antibody-based product candidates in clinical trials, SGN-30 and SGN-15. SGN-30 is being developed to treat patients\plain\cf1\f51\fs16\ql with hematologic malignancies. SGN-15 targets a variety of solid tumors, including lung and ovarian cancer. We also have three product candidates\plain\cf1\f51\fs16\ql presently undergoing preclinical development: SGN-40, SGN-35 and SGN-17/19. SGN-40 is in preclinical development for the treatment of hematologic\plain\cf1\f51\fs16\ql malignancies and solid tumors such as bladder and renal cancer. SGN-35, which utilizes our next generation ADC technology, is in preclinical\plain\cf1\f51\fs16\ql development for hematological malignancies. This technology utilizes proprietary stable linkers that can significantly reduce the toxic side effects caused\plain\cf1\f51\fs16\ql by the systemic release of drugs associated with less stable linker technology. These linkers attach our antibodies to synthetic, highly potent, cell-killing\plain\cf1\f51\fs16\ql drugs we have developed, including variants of Auristatin E, which are scaleable for commercial development. SGN-17/19, which utilizes our ADEPT\plain\cf1\f51\fs16\ql technology, is in preclinical development for patients with metastatic melanoma.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Since our inception, we have incurred substantial losses and, as of June 30, 2003, we had an accumulated deficit of $68.1 million. These losses and\plain\cf1\f51\fs16\ql accumulated deficit have resulted from the significant costs incurred in the development of our monoclonal antibody-based technologies, clinical trial\plain\cf1\f51\fs16\ql costs, manufacturing expenses of preclinical and clinical grade materials, general and administrative costs and non-cash stock-based compensation\plain\cf1\f51\fs16\ql expenses. We expect that our losses will continue for the foreseeable future as we continue to expand our research, development, clinical trial activities\plain\cf1\f51\fs16\ql and infrastructure in support of these activities.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql We do not currently have any commercial products for sale. To date, our revenues have been derived principally from our collaboration and license\plain\cf1\f51\fs16\ql agreements and from Small Business Innovative Research grants. In the future, our revenues may consist of milestone payments, technology licensing fees\plain\cf1\f51\fs16\ql and sponsored research fees under existing and future collaborative arrangements, royalties from collaborations with current and future strategic partners,\plain\cf1\f51\fs16\ql grant revenues and commercial product sales. Because a substantial portion of our revenues for the foreseeable future will depend on achieving\plain\cf1\f51\fs16\ql development and clinical milestones, our results of operations\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 11
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\ul{\field{\*\fldinst HYPERLINK \\l "toc_2281309" }{\*\fldrslt\cf3\f52\fs16\b\ql Table of Contents}}\par\pard\plain\cf1\f51\fs16\ql may vary substantially from year to year and quarter to quarter. We believe that period-to-period comparisons of our operating results are not meaningful\plain\cf1\f51\fs16\ql and you should not rely on them as indicative of our future performance.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\ql Results of Operations\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\ql Three months ended June 30, 2003 and 2002\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\b\ql Revenues.\plain\cf1\f51\fs16\ql \~\~\~\~Revenues increased 301% to $1.5 million for the three months ended June 30, 2003 from $375,000 for the three months ended June\plain\cf1\f51\fs16\ql 30, 2002. Revenues for the three months ended June 30, 2003 were derived from service and reagent fees of approximately $859,000, from the earned\plain\cf1\f51\fs16\ql portion of technology access fees and milestones of approximately $630,000 and from a Small Business Innovative Research (SBIR) grant of\plain\cf1\f51\fs16\ql approximately $16,000. Revenues for the three months ended June 30, 2002 were derived from the earned portion of technology access fees of\plain\cf1\f51\fs16\ql approximately $167,000, from service and reagent fees of approximately $165,000 and from a SBIR grant of approximately $43,000. We expect that\plain\cf1\f51\fs16\ql future revenues will vary from quarter to quarter based on the timing and amounts of payments under our current license and collaboration agreements\plain\cf1\f51\fs16\ql and on our ability to enter into additional agreements.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\b\ql Research and development.\plain\cf1\f51\fs16\ql \~\~\~\~Research and development expenses, excluding non-cash stock-based compensation expenses, increased 6% to $5.6\plain\cf1\f51\fs16\ql million for the three months ended June 30, 2003 from $5.3 million for the three months ended June 30, 2002. This increase was principally due to\plain\cf1\f51\fs16\ql increases in personnel expenses of approximately $435,000, partially offset by decreases in clinical trial costs. The number of research and development\plain\cf1\f51\fs16\ql personnel increased to 78 at June 30, 2003 from 69 at June 30, 2002. We anticipate that our research and development expenses will continue to grow in\plain\cf1\f51\fs16\ql the foreseeable future as we expand our research, development, contract manufacturing and clinical trial activities; however, those expenses may fluctuate\plain\cf1\f51\fs16\ql quarter to quarter based on the timing of manufacturing campaigns, accrual of patients in clinical trials and collaborative activities.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\b\ql General and administrative.\plain\cf1\f51\fs16\ql \~\~\~\~General and administrative expenses, excluding non-cash stock-based compensation expenses, remained consistent\plain\cf1\f51\fs16\ql at approximately $1.1 million for both the three months ended June 30, 2003 and the three months ended June 30, 2002. The number of general and\plain\cf1\f51\fs16\ql administrative personnel increased to 20 at June 30, 2003 from 19 at June 30, 2002. We anticipate that general and administrative expenses will increase\plain\cf1\f51\fs16\ql as our costs related to adding personnel in support of our general and administrative operations increase.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\b\ql Non-cash stock-based compensation.\plain\cf1\f51\fs16\ql \~\~\~\~Non-cash stock-based compensation expense decreased 41% to $491,000 for the three months ended June\plain\cf1\f51\fs16\ql 30, 2003 from $828,000 for the three months ended June 30, 2002. This decrease is attributable to the amortization of deferred stock-based compensation,\plain\cf1\f51\fs16\ql which will continue to decrease in future quarters as the options vest, and to adjustments to options subject to variable accounting. Variable accounting\plain\cf1\f51\fs16\ql treatment results in charges or credits, recorded to non-cash stock-based compensation, depending on fluctuations in the market value of our common\plain\cf1\f51\fs16\ql stock. We anticipate that non-cash stock-based compensation expense will continue to decrease in the future based upon scheduled amortizations in\plain\cf1\f51\fs16\ql accordance with Financial Accounting Standards Board Interpretation No. 28 using an accelerated basis over the vesting period of the individual options,\plain\cf1\f51\fs16\ql however, total non-cash stock-based compensation may fluctuate quarter to quarter based on the market value of our common stock.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\b\ql Investment income, net.\plain\cf1\f51\fs16\ql \~\~\~\~Investment income decreased 57% to $241,000 for the three months ended June 30, 2003 from $556,000 for the three\plain\cf1\f51\fs16\ql months ended June 30, 2002. This decrease is due to lower average balances of cash and cash equivalents, short-term and long-term investments and\plain\cf1\f51\fs16\ql restricted investments at lower average interest yields for the three months ended June 30, 2003, compared to higher average balances and higher average\plain\cf1\f51\fs16\ql interest yields for the three months ended June 30, 2002. We anticipate that investment income will increase during the third quarter of 2003 through the\plain\cf1\f51\fs16\ql investment of the proceeds of our Series A convertible preferred stock financing, which closed on July 8, 2003.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 12
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\ul{\field{\*\fldinst HYPERLINK \\l "toc_2281309" }{\*\fldrslt\cf3\f52\fs16\b\ql Table of Contents}}\par\pard\plain\cf1\f51\fs16\b\ql Six months ended June 30, 2003 and 2002\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\b\ql Revenues.\plain\cf1\f51\fs16\ql \~\~\~\~Revenues increased 244% to $2.2 million for the six months ended June 30, 2003 from $645,000 for the six months ended June 30,\plain\cf1\f51\fs16\ql 2002. Revenues for the six months ended June 30, 2003 were derived from service and reagent fees of approximately $1.2 million, from the earned\plain\cf1\f51\fs16\ql portion of technology access fees and milestones of approximately $1.0 million and from a Small Business Innovative Research (SBIR) grant of\plain\cf1\f51\fs16\ql approximately $47,000. Revenues for the six months ended June 30, 2002 were derived from the earned portion of technology access fees of\plain\cf1\f51\fs16\ql approximately $202,000, from service and reagent fees of approximately $350,000 and from a SBIR grant of approximately $93,000. We expect that\plain\cf1\f51\fs16\ql future revenues will vary from quarter to quarter based on the timing and amounts of payments under our license and collaboration agreements and on our\plain\cf1\f51\fs16\ql ability to enter into additional agreements.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\b\ql Research and development.\plain\cf1\f51\fs16\ql \~\~\~\~Research and development expenses, excluding non-cash stock-based compensation expenses, increased 10% to\plain\cf1\f51\fs16\ql $11.2 million for the six months ended June 30, 2003 from $10.2 million for the six months ended June 30, 2002. This increase was principally due to\plain\cf1\f51\fs16\ql increases in personnel expenses of approximately $981,000, partially offset by decreases in contract manufacturing costs. The number of research and\plain\cf1\f51\fs16\ql development personnel increased to 78 at June 30, 2003 from 69 at June 30, 2002. We anticipate that our research and development expenses will\plain\cf1\f51\fs16\ql continue to grow in the foreseeable future as we expand our research, development, contract manufacturing and clinical trial activities; however, those\plain\cf1\f51\fs16\ql expenses may fluctuate quarter to quarter based on the timing of manufacturing campaigns, accrual of patients in clinical trials and collaborative activities.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\b\ql General and administrative.\plain\cf1\f51\fs16\ql \~\~\~\~General and administrative expenses, excluding non-cash stock-based compensation expenses, increased 5% to $2.3\plain\cf1\f51\fs16\ql million for the six months ended June 30, 2003 from $2.2 million for the six months ended June 30, 2002. The number of general and administrative\plain\cf1\f51\fs16\ql personnel increased to 20 at June 30, 2003 from 19 at June 30, 2002. We anticipate that general and administrative expenses will increase as our costs\plain\cf1\f51\fs16\ql related to adding personnel in support of our general and administrative operations increase.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\b\ql Non-cash stock-based compensation.\plain\cf1\f51\fs16\ql \~\~\~\~Non-cash stock-based compensation expense decreased 51% to $835,000 for the six months ended June\plain\cf1\f51\fs16\ql 30, 2003 from $1.7 million for the six months ended June 30, 2002. This decrease is attributable to the amortization of deferred stock-based\plain\cf1\f51\fs16\ql compensation, which will continue to decrease in future quarters as the options vest, and to adjustments to options subject to variable accounting. Variable\plain\cf1\f51\fs16\ql accounting treatment results in charges or credits, recorded to non-cash stock-based compensation, dependent on fluctuations in the market value of our\plain\cf1\f51\fs16\ql common stock. We anticipate that non-cash stock-based compensation expense will continue to decrease in the future based upon scheduled amortizations\plain\cf1\f51\fs16\ql in accordance with Financial Accounting Standards Board Interpretation No. 28 using an accelerated basis over the vesting period of the individual\plain\cf1\f51\fs16\ql options.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\b\ql Investment income, net.\plain\cf1\f51\fs16\ql \~\~\~\~Investment income decreased 49% to $579,000 for the six months ended June 30, 2003 from $1.1 million for the six\plain\cf1\f51\fs16\ql months ended June 30, 2002. This decrease is due to lower average balances of cash and cash equivalents, short-term and long-term investments and\plain\cf1\f51\fs16\ql restricted investments at lower average interest yields for the six months ended June 30, 2003, compared to higher average balances and higher average\plain\cf1\f51\fs16\ql interest yields for the six months ended June 30, 2002. We anticipate that investment income will increase during the second half of 2003 through the\plain\cf1\f51\fs16\ql investment of the proceeds of our Series A convertible preferred stock financing, which closed on July 8, 2003.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\ql Liquidity and Capital Resources\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql At June 30, 2003, cash, cash equivalents, short-term and long-term investments totaled $32.1 million and restricted investments totaled\plain\cf1\f51\fs16\ql approximately $986,000. Our cash, cash equivalents, short-term and long-term investments and restricted investments are held in a variety of\plain\cf1\f51\fs16\ql interest-bearing instruments, consisting of U.S. government and agency securities, high-grade U.S. corporate bonds, taxable municipal bonds,\plain\cf1\f51\fs16\ql mortgage-backed securities, commercial paper and money market accounts.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 13
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\ul{\field{\*\fldinst HYPERLINK \\l "toc_2281309" }{\*\fldrslt\cf3\f52\fs16\b\ql Table of Contents}}\par\pard\plain\fi462\cf1\f51\fs16\ql Net cash used in operating activities for the six months ended June 30, 2003 was $11.4 million compared to $6.3 million for the six months ended\plain\cf1\f51\fs16\ql June 30, 2002. For both periods, we have funded a portion of the net cash used in support of operating activities from various license and collaboration\plain\cf1\f51\fs16\ql agreements. These agreements provide for technology access fees, license fees and shared development funding received under our collaboration\plain\cf1\f51\fs16\ql agreements with Protein Design Labs, Celltech Group, Genentech, Genencor International and others. During the first six months of 2002, $3.0 million\plain\cf1\f51\fs16\ql was received from collaborative sources, which lowered the cash used in operating activities for the six months ended June 30, 2002. We expect cash\plain\cf1\f51\fs16\ql used in operating activities to increase in the future as we increase our number of employees, expand our contract manufacturing initiatives and increase\plain\cf1\f51\fs16\ql the patient enrollments in our clinical trials. However, we may experience quarterly fluctuations in cash used in operating activities based on the timing of\plain\cf1\f51\fs16\ql manufacturing campaigns and cash provided from collaboration activities.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Net cash provided by investing activities for the six months ended June 30, 2003 was $11.0 million compared to net cash used in investing\plain\cf1\f51\fs16\ql activities of $4.5 million for the six months ended June 30, 2002. Cash provided by investing activities for the six months ended June 30, 2003 included\plain\cf1\f51\fs16\ql $11.3 million from sales and maturities of investments, net of the purchase of investments. This compared to $3.4 million from the purchase of\plain\cf1\f51\fs16\ql investments, net of sales and maturities of investments for the six months ended June 30, 2002. Purchases of property and equipment were $244,000 for\plain\cf1\f51\fs16\ql the six months ended June 30, 2003 compared to $1.0 million for the six months ended June 30, 2002. We expect that our future capital expenditures will\plain\cf1\f51\fs16\ql be lower than 2002 levels; however, capital expenditures may vary based on the progress of our collaborative activities.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Net cash used in financing activities was $154,000 for the six months ended June 30, 2003 compared to net cash provided by financing activities of\plain\cf1\f51\fs16\ql $6.6 million for the six months ended June 30, 2002. Financing activities during the six months ended June 30, 2003 consisted of proceeds from the\plain\cf1\f51\fs16\ql exercise of employee stock options and the collection of a note receivable from a stockholder offset by prepaid private placement costs for our Series A\plain\cf1\f51\fs16\ql convertible preferred stock financing, which closed during July 2003. Financing activities during the six months ended June 30, 2002 consisted primarily\plain\cf1\f51\fs16\ql of the receipt of $3.0 million from the private placement of common stock with Genencor International and $3.5 million from the private placement of\plain\cf1\f51\fs16\ql common stock with Genentech.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql We expect to incur substantial costs as we continue to develop and commercialize our product candidates. We anticipate that our rate of spending\plain\cf1\f51\fs16\ql will accelerate as a result of the increased costs and expenses associated with clinical trials, regulatory filings, manufacturing, and research and\plain\cf1\f51\fs16\ql development collaborations. However, we may experience fluctuations in incurring these costs from quarter to quarter based on the timing of\plain\cf1\f51\fs16\ql manufacturing campaigns, accrual of patients to clinical trials and collaborative activities. Our future expenditures and capital requirements will depend on\plain\cf1\f51\fs16\ql numerous factors, including the progress of our research and development activities, the cost of filing and enforcing any patent claims and other\plain\cf1\f51\fs16\ql intellectual property rights, competing technological and market developments and our ability to establish license and collaboration agreements.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql The following are future minimum contractual commitments for the periods subsequent to June 30, 2003 (in\~thousands):\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
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\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc Total
\par\pard\plain\intbl\fs16\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc 2003
\par\pard\plain\intbl\fs16\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc 2004-2005
\par\pard\plain\intbl\fs16\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc 2006-2007
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\par\pard\plain\intbl\fs16\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Total\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 19,809\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 2,590\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 4,816\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 4,703\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\ql $\cell\pard\plain\intbl\cf1\f51\fs16\qr 7,700\cell{
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx3746\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx4124\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx4292\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx4770\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5148\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5296\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx5691\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6069\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6406\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6801\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7179\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7516\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7911\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8289\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8619\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx9180\trrh206\row}}}
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\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\trqc\clvertalb\cellx3746\clvertalb\cellx4124\clvertalb\cellx4292\clvertalb\cellx4770\clvertalb\cellx5148\clvertalb\cellx5296\clvertalb\cellx5691\clvertalb\cellx6069\clvertalb\cellx6406\clvertalb\cellx6801\clvertalb\cellx7179\clvertalb\cellx7516\clvertalb\cellx7911\clvertalb\cellx8289\clvertalb\cellx8619\clvertalb\cellx9180\trrh281\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Our license and collaboration agreements also provide for payments by us upon the achievement of development or regulatory milestones and the\plain\cf1\f51\fs16\ql payment of royalties based on commercial product sales. We do not expect to pay any royalties on net sales of products under any of these agreements\plain\cf1\f51\fs16\ql for at least the next several years. The milestone payments could be substantially higher and the royalties could be payable earlier if we file or receive\plain\cf1\f51\fs16\ql regulatory approvals or achieve commercial sales sooner than expected.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 14
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\ul{\field{\*\fldinst HYPERLINK \\l "toc_2281309" }{\*\fldrslt\cf3\f52\fs16\b\ql Table of Contents}}\par\pard\plain\fi462\cf1\f51\fs16\ql As part of the terms of our office and laboratory lease, we have collateralized certain obligations under the lease with $986,000 of our investments\plain\cf1\f51\fs16\ql and the majority of our property and equipment. These investment securities are restricted as to withdrawal and are managed by a third party. Beginning\plain\cf1\f51\fs16\ql in 2005, the lease provides for decreases in the restricted account balance on an annual basis. However in the event that our market capitalization,\plain\cf1\f51\fs16\ql stockholders\u8217? equity or cash and investments balance fall below specific thresholds, we will be obligated to increase our restricted investment\plain\cf1\f51\fs16\ql balance to approximately $3.4 million.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql We believe that our current cash and investment balances combined with proceeds from our July 2003 private placement will be sufficient to enable\plain\cf1\f51\fs16\ql us to meet our anticipated expenditures and operating requirements for at least the next 24 months. We may seek additional funding through some or all\plain\cf1\f51\fs16\ql of the following methods: corporate collaborations, licensing arrangements and public or private equity financings. However, additional capital may not be\plain\cf1\f51\fs16\ql available on favorable terms or at all. If we are unable to raise additional funds should we need them, we may be required to delay, reduce or eliminate\plain\cf1\f51\fs16\ql some of our development programs and some of our clinical trials, which may adversely affect our business and operations.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\ql Subsequent Events\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\i\ql Series A Convertible Preferred Stock Financing\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql On July 8, 2003 we completed a $41.0 million private placement of 1,640,000 shares of our newly designated Series A convertible preferred stock\plain\cf1\f51\fs16\ql at a purchase price of $25.00 per share. Each share of Series A convertible preferred stock is convertible into 10 shares of common stock at a conversion\plain\cf1\f51\fs16\ql price of $2.50 per share. In addition, the purchasers of the Series A convertible preferred stock received warrants to purchase 2,050,000 shares of common\plain\cf1\f51\fs16\ql stock with an exercise price of $6.25 per share and an expiration date of December 31, 2011. J.P. Morgan Partners, LLC and Baker Brothers Investments\plain\cf1\f51\fs16\ql led the private placement, with additional participation by Delphi Ventures, BA Venture Partners and T. Rowe Price Health Sciences Fund.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql The Series A convertible preferred stock is entitled to receive a liquidation preference in an amount equal to the greater of: (a) $25.00 per share of\plain\cf1\f51\fs16\ql Series A convertible preferred stock; or (b) the amount that would have been paid had such share of Series A convertible preferred stock been converted\plain\cf1\f51\fs16\ql to common stock. The Series A convertible preferred stock is also entitled to vote separately as a class on certain types of corporate transactions and has\plain\cf1\f51\fs16\ql the right to designate two individuals for election to the board of directors. Upon closing of the financing, Srinivas Akkaraju, M.D., Ph.D., Principal at\plain\cf1\f51\fs16\ql J.P. Morgan Partners, and Felix Baker, Ph.D., Managing Partner at Baker Brothers Investments, were appointed to our Board of Directors, increasing the\plain\cf1\f51\fs16\ql size of Seattle Genetics\u8217? Board to nine members. The Series A convertible preferred stock is not redeemable by the holders thereof and does not\plain\cf1\f51\fs16\ql bear any dividends. The rights, privileges and preferences of the Series A convertible preferred stock are set forth in the Certificate of Designations of\plain\cf1\f51\fs16\ql Series A Convertible Preferred Stock attached as an exhibit to our Form 8-K filed with the SEC on June 5, 2003 and are more fully described in our\plain\cf1\f51\fs16\ql definitive proxy statement filed with the SEC on June 9, 2003.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Upon completion of the financing in July, we received approximately $40.4 million, net of $625,000 of issuance costs and estimated future\plain\cf1\f51\fs16\ql registration costs, from the sale and issuance of our Series A convertible preferred stock and warrants. We will allocate $36.8 million of the net proceeds\plain\cf1\f51\fs16\ql to the Series A convertible preferred stock and $3.6 million to the warrants to purchase common stock based on their relative fair values on the date of\plain\cf1\f51\fs16\ql issuance pursuant to Accounting Principles Board Opinion No. 14 \u8220?Accounting for Convertible Debt and Debt Issued with Stock Purchase\plain\cf1\f51\fs16\ql Warrants.\u8221? The fair value used to allocate proceeds to the Series A convertible preferred stock will be based upon a valuation that considered,\plain\cf1\f51\fs16\ql among other things, the closing price of the common stock on the date of closing, the impact of the preferred stock on market capitalization on an\plain\cf1\f51\fs16\ql as-converted basis and liquidation preferences. The fair value of the warrants to purchase common stock will be estimated using the Black Scholes option\plain\cf1\f51\fs16\ql pricing model using the following assumptions: exercise price $6.25; no dividends; term of approximately 8.5 years; risk free interest rate of 3.81%; and\plain\cf1\f51\fs16\ql volatility of 86.7%.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 15
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\ul{\field{\*\fldinst HYPERLINK \\l "toc_2281309" }{\*\fldrslt\cf3\f52\fs16\b\ql Table of Contents}}\par\pard\plain\fi462\cf1\f51\fs16\ql In accordance with the provisions of EITF 98-5 \u8220?Accounting for Convertible Securities with Beneficial Conversion Features or Contingently\plain\cf1\f51\fs16\ql Adjustable Conversion Ratios\u8221? and EITF 00-27 \u8220?Application of Issue No. 98-5 to Certain Convertible Instruments,\u8221? we will\plain\cf1\f51\fs16\ql separately assign a $36.8 million value to the embedded beneficial conversion feature of the Series A convertible preferred stock. The beneficial\plain\cf1\f51\fs16\ql conversion feature will be recorded as a discount to Series A convertible preferred stock with a corresponding increase to additional paid-in capital. The\plain\cf1\f51\fs16\ql beneficial conversion feature will represent the difference between the as-converted accounting value of the Series A convertible preferred stock as of the\plain\cf1\f51\fs16\ql original agreement date of May 12, 2003 and the fair value of our common stock as of the closing date of the transaction on July 8, 2003. The May 12,\plain\cf1\f51\fs16\ql 2003 as-converted value of the Series A convertible preferred stock will be based on the weighted-average price of our common stock for the 30 trading\plain\cf1\f51\fs16\ql days preceding May 12, 2003, as adjusted for the fair value allocation described above.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql The issuance of the Series A convertible preferred stock and the beneficial conversion feature will result in the recording of deemed dividends that\plain\cf1\f51\fs16\ql increase the recorded amount of Series A convertible preferred stock and reduce paid-in capital. These deemed dividends will be reported under a caption\plain\cf1\f51\fs16\ql \u8220?Non-cash preferred stock deemed dividend\u8221? and will represent an increase in net loss or a decrease in net income in arriving at net loss or\plain\cf1\f51\fs16\ql net income attributable to common stockholders. The beneficial conversion feature will be amortized using the effective yield method through the date of\plain\cf1\f51\fs16\ql earliest conversion, which is July 8, 2004. We estimate deemed dividends of approximately $15,000 for the third quarter of 2003, $186,000 for the fourth\plain\cf1\f51\fs16\ql quarter of 2003, $2.2 million for the first quarter of 2004, $27.1 million for the second quarter of 2004 and $7.2 million for the third quarter of 2004.\plain\cf1\f51\fs16\ql These deemed dividends will have no effect on net income or loss or cash flows for the applicable reporting periods or impact total stockholders\u8217?\plain\cf1\f51\fs16\ql equity on the applicable reporting dates.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\i\ql Amendment of Collaboration Agreement with Genencor International.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql On July 28, 2003, we entered into an amendment to extend and modify certain terms of our collaboration agreement with Genencor International,\plain\cf1\f51\fs16\ql which we originally established in January 2002. Under the amended agreement, Genencor International has agreed to pay us a fee to extend the term of\plain\cf1\f51\fs16\ql the collaboration by two additional years and obtain a non-exclusive license to our ADEPT technology for use with multiple targets. Genencor\plain\cf1\f51\fs16\ql International also agreed to co-fund a portion of our novel prodrug program. We will continue to have rights to access Genencor International\u8217?s\plain\cf1\f51\fs16\ql i-mune\u174? technology for any ADEPT molecules we are developing. Each party can independently develop products utilizing the other party\u8217?s\plain\cf1\f51\fs16\ql technology, subject to payment of fees, milestones and royalties on net sales of independent products. The parties may also mutually agree to co-develop\plain\cf1\f51\fs16\ql products. We will continue research and development of our lead ADEPT product candidate, SGN-17/19, on our own without further co-funding from\plain\cf1\f51\fs16\ql Genencor International.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\ql Important Factors That May Affect Our Business, Results of Operations and Stock Price\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql You should carefully consider the risks described below, together with all of the other information included in this quarterly report on Form 10-Q\plain\cf1\f51\fs16\ql and the information incorporated by reference herein. If we do not effectively address the risks we face, our business will suffer and we may never\plain\cf1\f51\fs16\ql achieve or sustain profitability. See \u8220?Management\u8217?s Discussion and Analysis of Financial Condition and Results of Operations.\u8221?\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql This quarterly report on Form 10-Q also contains forward-looking statements that involve risks and uncertainties. Our actual results could differ\plain\cf1\f51\fs16\ql materially from those anticipated in the forward-looking statements as a result of factors that are described below and elsewhere in this quarterly report\plain\cf1\f51\fs16\ql on Form 10-Q.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\i\ql We have a history of net losses. We expect to continue to incur net losses and may not achieve or maintain profitability for some time, if at all. Our\plain\cf1\f51\fs16\b\i\ql limited operating history may make it difficult to evaluate our business and an investment in our common stock.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql We incorporated in July 1997 and have a limited operating history upon which an investor may evaluate our operations and future prospects. We\plain\cf1\f51\fs16\ql have incurred net losses in each of our years of operation and, as of June 30, 2003, we had an accumulated deficit of approximately $68.1 million. We\plain\cf1\f51\fs16\ql expect to make substantial expenditures\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 16
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\ul{\field{\*\fldinst HYPERLINK \\l "toc_2281309" }{\*\fldrslt\cf3\f52\fs16\b\ql Table of Contents}}\par\pard\plain\cf1\f51\fs16\ql to further develop and commercialize our product candidates and anticipate that our rate of spending will accelerate as the result of the increased costs\plain\cf1\f51\fs16\ql and expenses associated with research, development, clinical trials, manufacturing, regulatory approvals and commercialization of our potential products. In\plain\cf1\f51\fs16\ql the near term, we expect our revenues to be derived from milestone payments, technology licensing fees and sponsored research fees under existing and\plain\cf1\f51\fs16\ql future collaborative arrangements. In the longer term, our revenues may also include royalties from collaborations with current and future strategic partners\plain\cf1\f51\fs16\ql and commercial product sales. However, our revenue and profit potential is unproven and our limited operating history makes our future operating results\plain\cf1\f51\fs16\ql difficult to predict.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\i\ql Our product candidates are at an early stage of development and, if we are not able to successfully develop and commercialize them, we may not\plain\cf1\f51\fs16\b\i\ql generate sufficient revenues to continue our business operations.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql All of our product candidates are in early stages of development. Significant further research and development, financial resources and personnel\plain\cf1\f51\fs16\ql will be required to develop commercially viable products and obtain regulatory approvals. Currently, SGN-30 and SGN-15 are our only product\plain\cf1\f51\fs16\ql candidates in clinical trials. We are also conducting preclinical development of SGN-40, SGN-35 and SGN-17/19. We expect that much of our efforts\plain\cf1\f51\fs16\ql and expenditures over the next few years will be devoted to these clinical and preclinical product candidates. We have no products that have received\plain\cf1\f51\fs16\ql regulatory approval for commercial sale.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Our ability to commercialize our product candidates depends on first receiving FDA approval. Thereafter, the commercial success of these product\plain\cf1\f51\fs16\ql candidates will depend upon their acceptance by physicians, patients and other key decision-makers as therapeutic and cost-effective alternatives to\plain\cf1\f51\fs16\ql currently available products. If we fail to gain approval from the FDA or to produce a commercially successful product, we may not be able to earn\plain\cf1\f51\fs16\ql sufficient revenues to continue as a going concern.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\i\ql We will continue to need significant amounts of additional capital that may not be available to us.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql We expect to make additional capital outlays and to increase operating expenditures over the next several years as we hire additional employees and\plain\cf1\f51\fs16\ql support our preclinical development and clinical trial activities. We believe that our existing cash and investment securities will be sufficient to fund our\plain\cf1\f51\fs16\ql operations for at least the next 24 months. However, changes in our business may occur that would consume available capital resources sooner than we\plain\cf1\f51\fs16\ql expect. If adequate funds are not available to us, we will be required to delay, reduce the scope of or eliminate one or more of our development\plain\cf1\f51\fs16\ql programs. We do not know whether additional financing will be available when needed, or that, if available, we will obtain financing on terms favorable\plain\cf1\f51\fs16\ql to our stockholders or us. To the extent that we raise additional capital by issuing equity securities, our stockholders may experience substantial dilution.\plain\cf1\f51\fs16\ql To the extent that we raise additional funds through collaboration and licensing arrangements, we may be required to relinquish some rights to our\plain\cf1\f51\fs16\ql technologies or product candidates, or grant licenses on terms that are not favorable to us.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\i\ql Clinical trials for our product candidates are expensive, time consuming and their outcome is uncertain.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Before we can obtain regulatory approval for the commercial sale of any product candidate that we wish to develop, we are required to complete\plain\cf1\f51\fs16\ql preclinical development and extensive clinical trials in humans to demonstrate its safety and efficacy. Each of these trials requires the investment of\plain\cf1\f51\fs16\ql substantial expense and time. We are currently conducting multiple clinical trials of our two most advanced product candidates, and expect to commence\plain\cf1\f51\fs16\ql additional trials of these and other product candidates in the future. There are numerous factors that could delay each of these clinical trials or prevent us\plain\cf1\f51\fs16\ql from completing these trials successfully.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Ongoing and future clinical trials of our product candidates may not show sufficient safety or efficacy to obtain requisite regulatory approvals. Last\plain\cf1\f51\fs16\ql year, we completed and closed clinical trials of SGN-15 in combination with Taxotere for the treatment of colon and breast cancer. We also still only\plain\cf1\f51\fs16\ql have limited efficacy data in our ongoing clinical trials of SGN-30 and SGN-15. Commercialization of our product candidates will\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 17
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\ul{\field{\*\fldinst HYPERLINK \\l "toc_2281309" }{\*\fldrslt\cf3\f52\fs16\b\ql Table of Contents}}\par\pard\plain\cf1\f51\fs16\ql ultimately depend upon successful completion of additional research and development and testing in both preclinical models and clinical trials. At the\plain\cf1\f51\fs16\ql present time, SGN-30 and SGN-15 are our only product candidates in clinical trials and SGN-40, SGN-35 and SGN-17/19 are our only product\plain\cf1\f51\fs16\ql candidates in preclinical development. As a result, any delays or difficulties we encounter with these product candidates may impact our ability to\plain\cf1\f51\fs16\ql generate revenue and cause our stock price to decline significantly.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Furthermore, success in preclinical and early clinical trials does not ensure that large-scale trials will be successful nor does it predict final results.\plain\cf1\f51\fs16\ql Acceptable results in early trials may not be repeated in later trials. A number of companies in the biotechnology industry have suffered significant\plain\cf1\f51\fs16\ql setbacks in advanced clinical trials, even after promising results in earlier trials. Negative or inconclusive results or adverse medical events during a\plain\cf1\f51\fs16\ql clinical trial could cause it to be redone or terminated. In addition, failure to construct appropriate clinical trial protocols could result in the test or control\plain\cf1\f51\fs16\ql group experiencing a disproportionate number of adverse events and could cause a clinical trial to be redone or terminated. The length of time necessary\plain\cf1\f51\fs16\ql to complete clinical trials and to submit an application for marketing approval for a final decision by the FDA or another regulatory authority may also\plain\cf1\f51\fs16\ql vary significantly based on the type, complexity and novelty of the product involved, as well as other factors.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\i\ql We may choose to, or may be required to, delay, suspend, repeat or terminate our clinical trials if patient enrollment cannot be achieved on a timely\plain\cf1\f51\fs16\b\i\ql basis or if the trials are not conducted in accordance with regulatory requirements, the results are negative or inconclusive or the trials are not well\plain\cf1\f51\fs16\b\i\ql designed.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Clinical trials must be conducted in accordance with the FDA\u8217?s guidelines and are subject to oversight by the FDA and institutional review\plain\cf1\f51\fs16\ql boards at the medical institutions where the clinical trials are conducted. In addition, clinical trials must be conducted with product candidates produced\plain\cf1\f51\fs16\ql under the FDA\u8217?s current Good Manufacturing Practices, and may require large numbers of test patients. Patient enrollment is a function of many\plain\cf1\f51\fs16\ql factors, including the size of the patient population, the proximity of patients to clinical sites, the eligibility criteria for the trial, the existence of\plain\cf1\f51\fs16\ql competing clinical trials and the availability of alternative or new treatments. We depend on medical institutions to conduct our clinical trials and to the\plain\cf1\f51\fs16\ql extent they fail to enroll patients for our clinical trials or are delayed for a significant time in achieving full enrollment, we may be affected by increased\plain\cf1\f51\fs16\ql costs, program delays or both, which may harm our business.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql In addition, we or the FDA might delay or halt our clinical trials of a product candidate for various reasons, including:\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\clvertalc\cellx432\cellx988\cellx1096\cellx10800\trrh248
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \u8226?\cell\pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql deficiencies in the conduct of the clinical trials;\cell{
{\trowd\clvertalc\cellx432\cellx988\cellx1096\cellx10800\trrh248\row}}}
\pard\plain
{\trowd\clvertalc\cellx432\cellx988\cellx1096\cellx10800\trrh248
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \u8226?\cell\pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql the product candidate may have unforeseen adverse side effects;\cell{
{\trowd\clvertalc\cellx432\cellx988\cellx1096\cellx10800\trrh248\row}}}
\pard\plain
{\trowd\clvertalc\cellx432\cellx988\cellx1096\cellx10800\trrh248
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \u8226?\cell\pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql the time required to determine whether the product candidate is effective may be longer than expected;\cell{
{\trowd\clvertalc\cellx432\cellx988\cellx1096\cellx10800\trrh248\row}}}
\pard\plain
{\trowd\clvertalc\cellx432\cellx988\cellx1096\cellx10800\trrh248
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \u8226?\cell\pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql fatalities arising during a clinical trial due to medical problems that may not be related to clinical trial treatments;\cell{
{\trowd\clvertalc\cellx432\cellx988\cellx1096\cellx10800\trrh248\row}}}
\pard\plain
{\trowd\clvertalc\cellx432\cellx988\cellx1096\cellx10800\trrh248
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \u8226?\cell\pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql the product candidate may not appear to be more effective than current therapies;\cell{
{\trowd\clvertalc\cellx432\cellx988\cellx1096\cellx10800\trrh248\row}}}
\pard\plain
{\trowd\clvertalc\cellx432\cellx988\cellx1096\cellx10800\trrh248
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \u8226?\cell\pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql we may have insufficient patient enrollment in the clinical trials;\cell{
{\trowd\clvertalc\cellx432\cellx988\cellx1096\cellx10800\trrh248\row}}}
\pard\plain
{\trowd\clvertalc\cellx432\cellx988\cellx1096\cellx10800\trrh248
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \u8226?\cell\pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql quality or stability of the product candidate may fall below acceptable standards; or\cell{
{\trowd\clvertalc\cellx432\cellx988\cellx1096\cellx10800\trrh248\row}}}
\pard\plain
{\trowd\clvertalc\cellx432\cellx988\cellx1096\cellx10800\trrh248
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \u8226?\cell\pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql we may not be able to produce sufficient quantities of the product candidate to complete the trials.\cell{
{\trowd\clvertalc\cellx432\cellx988\cellx1096\cellx10800\trrh248\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Due to these and other factors, our current product candidates or any of our other future product candidates could take a significantly longer time to\plain\cf1\f51\fs16\ql gain regulatory approval than we expect or may never gain approval, which could reduce or eliminate our revenue by delaying or terminating the potential\plain\cf1\f51\fs16\ql commercialization of our product candidates.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\i\ql Our next generation antibody-drug conjugate (ADC) technology is still at an early-stage of development and has not yet entered human clinical\plain\cf1\f51\fs16\b\i\ql trials.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Our next generation ADC technology, utilizing proprietary stable linkers and highly potent cell-killing drugs, is still at an early stage of\plain\cf1\f51\fs16\ql development. This ADC technology is used in our SGN-35 product candidate\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 18
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\ul{\field{\*\fldinst HYPERLINK \\l "toc_2281309" }{\*\fldrslt\cf3\f52\fs16\b\ql Table of Contents}}\par\pard\plain\cf1\f51\fs16\ql and is the basis of our collaborations with Protein Design Labs, Celltech and Genentech. We and our corporate collaborators are still conducting\plain\cf1\f51\fs16\ql toxicology, pharmacology, pharmacokinetics and other preclinical studies of these ADCs, and significant additional studies will be required before any of\plain\cf1\f51\fs16\ql these ADC product candidates enter human clinical trials. Any failures or setbacks in our ADC program could have a detrimental impact on our internal\plain\cf1\f51\fs16\ql product candidate pipeline and our ability to maintain and/or enter into new corporate collaborations regarding this technology, which would negatively\plain\cf1\f51\fs16\ql affect our business and financial position.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\i\ql We currently rely on third-party manufacturers and other third parties for production of our drug products and our dependence on these\plain\cf1\f51\fs16\b\i\ql manufacturers may impair the development of our product candidates.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql We do not currently have the ability to manufacture ourselves the drug products that we need to conduct our clinical trials. For SGN-15, we\plain\cf1\f51\fs16\ql presently rely on drug products that were produced and vialed by Bristol-Myers Squibb and contract manufacturers retained by Bristol-Myers Squibb. We\plain\cf1\f51\fs16\ql have entered into, and intend to continue to enter into, agreements with contract manufacturers to supplement our supplies of SGN-15 as necessary,\plain\cf1\f51\fs16\ql including ICOS Corporation, Albany Molecular Research, Inc. and Sicor Pharmaceuticals, Inc. For our second product candidate in clinical trials,\plain\cf1\f51\fs16\ql SGN-30, we have contracted with ICOS to manufacture preclinical and clinical supplies. For our preclinical product candidate, SGN-40, we have\plain\cf1\f51\fs16\ql received substantial clinical-grade quantities of SGN-40 from Genentech. In addition, we rely on other third parties to perform additional steps in the\plain\cf1\f51\fs16\ql manufacturing process, including conjugation, vialing and storage of our product candidates.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql For the foreseeable future, we expect to continue to rely on contract manufacturers and other third parties to produce, vial and store sufficient\plain\cf1\f51\fs16\ql quantities of our product candidates for use in our clinical trials. If our contract manufacturers or other third parties fail to deliver our product candidates\plain\cf1\f51\fs16\ql for clinical use on a timely basis, with sufficient quality, and at commercially reasonable prices, and we fail to find replacement manufacturers or to\plain\cf1\f51\fs16\ql develop our own manufacturing capabilities, we may be required to delay or suspend clinical trials or otherwise discontinue development and production\plain\cf1\f51\fs16\ql of our product candidates.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Contract manufacturers have a limited number of facilities in which our product candidates can be produced. We currently rely on contract\plain\cf1\f51\fs16\ql manufacturers to produce our product candidates under FDA current Good Manufacturing Practices to meet acceptable standards for our clinical trials.\plain\cf1\f51\fs16\ql Such standards may change, affecting the ability of contract manufacturers to produce our product candidates on the schedule we require for our clinical\plain\cf1\f51\fs16\ql trials. Contract manufacturers may not perform their obligations under their agreements with us or may discontinue their business before the time required\plain\cf1\f51\fs16\ql by us to successfully produce and market our product candidates.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\i\ql In some circumstances we rely on collaborators to assist in the research and development activities necessary for the commercialization of our product\plain\cf1\f51\fs16\b\i\ql candidates. If we are not able to locate suitable collaborators or if our collaborators do not perform as expected, we may not be able to commercialize\plain\cf1\f51\fs16\b\i\ql our product candidates.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql We have established and intend to continue to establish alliances with third-party collaborators to develop and market some of our current and\plain\cf1\f51\fs16\ql future product candidates and to license our antibody-drug conjugate technology. We have licensed our ADC technology to Protein Design Labs, Celltech\plain\cf1\f51\fs16\ql and Genentech and have licensed our ADEPT technology to Genencor International. These collaborations provide us cash and revenues through\plain\cf1\f51\fs16\ql technology access and license fees, sponsored research fees, equity sales and potential milestone and royalty payments. We use these funds to partially\plain\cf1\f51\fs16\ql fund the development costs of our internal pipeline of product candidates. Collaborations can also create and strengthen our relationships with leading\plain\cf1\f51\fs16\ql biotechnology and pharmaceutical companies and may provide synergistic benefits by combining our technologies with the technologies of our\plain\cf1\f51\fs16\ql collaborators.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Under certain conditions, these collaborators may terminate their agreements with us and discontinue use of our technologies. For example,\plain\cf1\f51\fs16\ql Genentech terminated its rights to SGN-40 earlier this year and Genencor International recently elected not to continue co-developing SGN-17/19. We\plain\cf1\f51\fs16\ql cannot control the amount and timing of resources our collaborators may devote to products incorporating our technology. Additionally, our\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 19
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\ul{\field{\*\fldinst HYPERLINK \\l "toc_2281309" }{\*\fldrslt\cf3\f52\fs16\b\ql Table of Contents}}\par\pard\plain\cf1\f51\fs16\ql relationships with our collaborators divert significant time and effort of our scientific staff and management team and require effective allocation of our\plain\cf1\f51\fs16\ql resources to multiple internal and collaborative projects. Our collaborators may separately pursue competing products, therapeutic approaches or\plain\cf1\f51\fs16\ql technologies to develop treatments for the diseases targeted by us or our collaborators. Even if our collaborators continue their contributions to the\plain\cf1\f51\fs16\ql collaborative arrangements, they may nevertheless determine not to actively pursue the development or commercialization of any resulting products. Our\plain\cf1\f51\fs16\ql collaborators may fail to perform their obligations under the collaboration agreements or may be slow in performing their obligations. If any of our\plain\cf1\f51\fs16\ql collaborators terminate or breach our agreements with them, or otherwise fail to complete their obligations in a timely manner, it may have a detrimental\plain\cf1\f51\fs16\ql effect on our financial position by reducing or eliminating the potential for us to receive technology access and license fees, milestones and royalties, as\plain\cf1\f51\fs16\ql well as possibly requiring us to devote additional efforts and incur costs associated with pursuing internal development of product candidates. Furthermore,\plain\cf1\f51\fs16\ql if our collaborators do not prioritize and commit substantial resources to programs associated with our product candidates, we may be unable to\plain\cf1\f51\fs16\ql commercialize our product candidates, which would limit our ability to generate revenue and become profitable. In the future, we may not be able to\plain\cf1\f51\fs16\ql locate third party collaborators to develop and market our product candidates and we may lack the capital and resources necessary to develop all our\plain\cf1\f51\fs16\ql product candidates alone.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\i\ql We depend on a small number of collaborators for most of our current revenue. The loss of any one of these collaborators could result in a\plain\cf1\f51\fs16\b\i\ql substantial decline in our revenue.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql We have collaborations with a limited number of companies. To date, almost all of our revenue has resulted from payments made under agreements\plain\cf1\f51\fs16\ql with our corporate collaborators, and we expect that most of our future revenue will continue to come from corporate collaborations until the approval and\plain\cf1\f51\fs16\ql commercialization of one or more of our product candidates. The failure of our collaborators to perform their obligations under their agreements with us,\plain\cf1\f51\fs16\ql including paying license or technology fees, milestone payments or royalties, could have a material adverse effect on our financial performance. Payments\plain\cf1\f51\fs16\ql under our existing and future collaboration agreements are also subject to significant fluctuations in both timing and amount, which could cause our\plain\cf1\f51\fs16\ql revenue to fall below the expectations of securities analysts and investors and cause a decrease in our stock price.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\i\ql We rely on license agreements for certain aspects of our product candidates and technology. Failure to maintain these license agreements could\plain\cf1\f51\fs16\b\i\ql prevent us from developing or commercializing our product candidates and technology.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql We have entered into agreements with third-party commercial and academic institutions to license technology for use in our ADC technology and\plain\cf1\f51\fs16\ql product candidates. Currently, we have license agreements with Bristol-Myers Squibb, Arizona State University, Proacta Therapeutics, Genentech,\plain\cf1\f51\fs16\ql Mabtech AB and the University of Miami, among others. Some of these license agreements contain diligence and milestone-based termination provisions,\plain\cf1\f51\fs16\ql in which case our failure to meet any agreed upon diligence requirements or milestones may allow the licensor to terminate the agreement. Many of our\plain\cf1\f51\fs16\ql license agreements grant us exclusive licenses to the underlying technologies. If our licensors terminate our license agreements or if we are unable to\plain\cf1\f51\fs16\ql maintain the exclusivity of our exclusive license agreements, we may be unable to continue to develop and commercialize our product candidates.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\i\ql If we are unable to protect our proprietary technology, trade secrets or know-how, we may not be able to operate our business profitably. Similarly, if\plain\cf1\f51\fs16\b\i\ql we fail to sustain and further build our intellectual property rights, competitors may be able to develop competing therapies.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Our success depends, in part, on our ability to maintain protection for our products and technologies under the patent laws and other intellectual\plain\cf1\f51\fs16\ql property laws of the United States, France, Germany, Japan, United Kingdom and Italy, as well as other countries. We have filed several patent\plain\cf1\f51\fs16\ql applications with the U.S. Patent and Trademark Office for our technologies that are currently pending. We also have exclusive or partially-exclusive\plain\cf1\f51\fs16\ql rights to issued U.S. patents, foreign counterpart patents and patent applications in the countries listed above\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 20
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\ul{\field{\*\fldinst HYPERLINK \\l "toc_2281309" }{\*\fldrslt\cf3\f52\fs16\b\ql Table of Contents}}\par\pard\plain\cf1\f51\fs16\ql relating to our monoclonal antibody-based technologies. Our rights to these patents are derived from worldwide licenses from Bristol-Myers Squibb,\plain\cf1\f51\fs16\ql Arizona State University and Proacta Therapeutics, among others. In addition, we have licensed or optioned rights to pending U.S. patent applications and\plain\cf1\f51\fs16\ql foreign counterpart patents and patent applications to third parties.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql The standards that the U.S. Patent and Trademark Office uses to grant patents are not always applied predictably or uniformly and can change.\plain\cf1\f51\fs16\ql Consequently, our pending patent applications may not be allowed and, if allowed, may not contain the type and extent of patent claims that will be\plain\cf1\f51\fs16\ql adequate to conduct our business as planned. Additionally, any issued patents may not contain claims that will permit us to stop competitors from using\plain\cf1\f51\fs16\ql similar technology. Similarly, the standards that courts use to interpret patents are not always applied predictably or uniformly and may evolve,\plain\cf1\f51\fs16\ql particularly as new technologies develop. As a result, the protection, if any, given by our patents if we attempt to enforce them or if they are challenged\plain\cf1\f51\fs16\ql in court is uncertain. In addition, we rely on certain proprietary trade secrets and know-how. We have taken measures to protect our unpatented trade\plain\cf1\f51\fs16\ql secrets and know-how, including the use of confidentiality and assignment of inventions agreements with our employees, consultants and certain\plain\cf1\f51\fs16\ql contractors. It is possible, however, that these persons may breach the agreements or that our competitors may independently develop or otherwise\plain\cf1\f51\fs16\ql discover our trade secrets.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\i\ql We may incur substantial costs and lose important rights as a result of litigation or other proceedings relating to patent and other intellectual property\plain\cf1\f51\fs16\b\i\ql rights.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql The defense and prosecution of intellectual property rights, U.S. Patent and Trademark Office interference proceedings and related legal and\plain\cf1\f51\fs16\ql administrative proceedings in the United States and elsewhere involve complex legal and factual questions. These proceedings are costly and\plain\cf1\f51\fs16\ql time-consuming. If we become involved in any litigation, interference or other administrative proceedings, we will incur substantial expense and it will\plain\cf1\f51\fs16\ql divert the efforts of our technical and management personnel. An adverse determination may subject us to significant liabilities or require us to seek\plain\cf1\f51\fs16\ql licenses that may not be available from third parties on commercially reasonable terms, if at all. We may be restricted or prevented from developing and\plain\cf1\f51\fs16\ql commercializing our product candidates in the event of an adverse determination in a judicial or administrative proceeding, or if we fail to obtain\plain\cf1\f51\fs16\ql necessary licenses.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\i\ql If we lose our key personnel or are unable to attract and retain additional qualified personnel, our future growth and ability to compete would suffer.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql We are highly dependent on the efforts and abilities of the principal members of our senior management and scientific teams. Additionally, we have\plain\cf1\f51\fs16\ql several scientific personnel with significant and unique expertise in monoclonal antibodies and related technologies. The loss of the services of principal\plain\cf1\f51\fs16\ql members of our managerial or scientific staff may prevent us from achieving our business objectives.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql The competition for qualified personnel in the biotechnology field is intense, and our future success depends upon our ability to attract, retain and\plain\cf1\f51\fs16\ql motivate highly skilled scientific, technical and managerial employees. In order to commercialize our products successfully, we will be required to expand\plain\cf1\f51\fs16\ql our workforce, particularly in the areas of manufacturing, clinical trials management, regulatory affairs, business development and sales and marketing.\plain\cf1\f51\fs16\ql These activities will require the addition of new personnel, including management, and the development of additional expertise by existing management\plain\cf1\f51\fs16\ql personnel. We face intense competition for qualified individuals from numerous pharmaceutical and biotechnology companies, as well as academic and\plain\cf1\f51\fs16\ql other research institutions. To the extent we are not able to attract and retain these individuals on favorable terms, our business may be harmed.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 21
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\ul{\field{\*\fldinst HYPERLINK \\l "toc_2281309" }{\*\fldrslt\cf3\f52\fs16\b\ql Table of Contents}}\par\pard\plain\cf1\f51\fs16\b\i\ql We face intense competition and rapid technological change, which may result in others discovering, developing or commercializing competing\plain\cf1\f51\fs16\b\i\ql products before or more successfully than we do.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql The biotechnology and pharmaceutical industries are highly competitive and subject to significant and rapid technological change. We are aware of\plain\cf1\f51\fs16\ql many pharmaceutical and biotechnology companies that are actively engaged in research and development in areas related to antibody therapy. Some of\plain\cf1\f51\fs16\ql these competitors have successfully commercialized antibody products or are developing or testing product candidates that do or may in the future\plain\cf1\f51\fs16\ql compete directly with our product candidates. For example, Genentech, Immunogen, IDEC Pharmaceuticals, Medarex and Wyeth are developing and/or\plain\cf1\f51\fs16\ql marketing products that may compete with ours. Other potential competitors include large, fully integrated pharmaceutical companies and more established\plain\cf1\f51\fs16\ql biotechnology companies, which have significant resources and expertise in research and development, manufacturing, testing, obtaining regulatory\plain\cf1\f51\fs16\ql approvals and marketing. Also, academic institutions, government agencies and other public and private research organizations conduct research, seek\plain\cf1\f51\fs16\ql patent protection and establish collaborative arrangements for research, development, manufacturing and marketing. It is possible that these competitors\plain\cf1\f51\fs16\ql will succeed in developing technologies that are more effective than our product candidates or that would render our technology obsolete or\plain\cf1\f51\fs16\ql noncompetitive.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\i\ql If our competitors develop superior products, manufacturing capability or marketing expertise, our business may fail.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Our business may fail because we face intense competition from major pharmaceutical companies and specialized biotechnology companies engaged\plain\cf1\f51\fs16\ql in the development of other products directed at cancer. Many of our competitors have greater financial and human resources expertise and more\plain\cf1\f51\fs16\ql experience in the commercialization of product candidates. Our competitors may, among other things:\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
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{\trowd\clvertalc\cellx432\cellx988\cellx1096\cellx10800\trrh248\row}}}
\pard\plain
{\trowd\clvertalc\cellx432\cellx988\cellx1096\cellx10800\trrh248
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \u8226?\cell\pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql implement more effective approaches to sales and marketing;\cell{
{\trowd\clvertalc\cellx432\cellx988\cellx1096\cellx10800\trrh248\row}}}
\pard\plain
{\trowd\clvertalc\cellx432\cellx988\cellx1096\cellx10800\trrh248
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \u8226?\cell\pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql develop less costly products;\cell{
{\trowd\clvertalc\cellx432\cellx988\cellx1096\cellx10800\trrh248\row}}}
\pard\plain
{\trowd\clvertalc\cellx432\cellx988\cellx1096\cellx10800\trrh248
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \u8226?\cell\pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql obtain quicker regulatory approval;\cell{
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\pard\plain
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\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \u8226?\cell\pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql have access to more manufacturing capacity;\cell{
{\trowd\clvertalc\cellx432\cellx988\cellx1096\cellx10800\trrh248\row}}}
\pard\plain
{\trowd\clvertalc\cellx432\cellx988\cellx1096\cellx10800\trrh248
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \u8226?\cell\pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql form more advantageous strategic alliances; or\cell{
{\trowd\clvertalc\cellx432\cellx988\cellx1096\cellx10800\trrh248\row}}}
\pard\plain
{\trowd\clvertalc\cellx432\cellx988\cellx1096\cellx10800\trrh248
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \u8226?\cell\pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql establish superior proprietary positions.\cell{
{\trowd\clvertalc\cellx432\cellx988\cellx1096\cellx10800\trrh248\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql In addition, if we receive regulatory approvals, we may compete with well-established, FDA-approved therapies that have generated substantial\plain\cf1\f51\fs16\ql sales over a number of years. We anticipate that we will face increased competition in the future as new companies enter our market and scientific\plain\cf1\f51\fs16\ql developments surrounding other cancer therapies continue to accelerate.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\i\ql We have no experience in commercializing products on our own and, to the extent we do not develop this ability or contract with a third party to\plain\cf1\f51\fs16\b\i\ql assist us, we may not be able to successfully sell our product candidates.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql We do not have a sales and marketing force and may not be able to develop this capacity. If we are unable to establish sales and marketing\plain\cf1\f51\fs16\ql capabilities, we will need to enter into sales and marketing agreements to market our products in the United States. For sales outside the United States, we\plain\cf1\f51\fs16\ql plan to enter into third-party arrangements. In these foreign markets, if we are unable to establish successful distribution relationships with pharmaceutical\plain\cf1\f51\fs16\ql companies, we may fail to realize the full sales potential of our product candidates.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Additionally, our product candidates may not gain market acceptance among physicians, patients, healthcare payors and the medical community. The\plain\cf1\f51\fs16\ql degree of market acceptance of any approved product candidate will depend on a number of factors, including: establishment and demonstration of clinical\plain\cf1\f51\fs16\ql efficacy and safety; cost-effectiveness of a product; its potential advantage over alternative treatment methods; and marketing and distribution support for\plain\cf1\f51\fs16\ql the product.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 22
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\ul{\field{\*\fldinst HYPERLINK \\l "toc_2281309" }{\*\fldrslt\cf3\f52\fs16\b\ql Table of Contents}}\par\pard\plain\fi462\cf1\f51\fs16\ql Moreover, government health administrative authorities, private health insurers and other organizations are increasingly challenging both the need for\plain\cf1\f51\fs16\ql and the price of new medical products and services. Consequently, uncertainty exists as to the reimbursement status of newly approved therapeutics and\plain\cf1\f51\fs16\ql diagnostics. For these and other reasons, physicians, patients, third-party payors and the medical community may not accept and utilize any product\plain\cf1\f51\fs16\ql candidates that we develop and even if they do, reimbursement may not be available for our products to enable us to maintain price levels sufficient to\plain\cf1\f51\fs16\ql realize an appropriate return on our investment in research and product development.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\i\ql Our stock price may be volatile and our shares may suffer a decline in value.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql The market prices for securities of biotechnology companies have in the past been, and are likely to continue in the future to be, very volatile.\plain\cf1\f51\fs16\ql During the second quarter of 2003, our stock price fluctuated between $2.15 and $5.92 per share. As a result of fluctuations in the price of our common\plain\cf1\f51\fs16\ql stock, you may be unable to sell your shares at or above the price you paid for them. The market price of our common stock may be subject to\plain\cf1\f51\fs16\ql substantial volatility in response to many risk factors listed in this section, and others beyond our control, including:\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
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\pard\plain
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\pard\plain
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\pard\plain
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\pard\plain
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\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \u8226?\cell\pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql developments or disputes concerning our proprietary rights;\cell{
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{\trowd\clvertalc\cellx432\cellx988\cellx1096\cellx10800\trrh248
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql \u8226?\cell\pard\plain\intbl\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql economic or other external factors.\cell{
{\trowd\clvertalc\cellx432\cellx988\cellx1096\cellx10800\trrh248\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\i\ql We face product liability risks and may not be able to obtain adequate insurance to protect us against losses.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql We currently have no products that have been approved for commercial sale. However, the current and future use of our product candidates by us\plain\cf1\f51\fs16\ql and our corporate collaborators in clinical trials, and the sale of any approved products in the future, may expose us to liability claims. These claims\plain\cf1\f51\fs16\ql might be made directly by consumers or healthcare providers or indirectly by pharmaceutical companies, our corporate collaborators or others selling such\plain\cf1\f51\fs16\ql products. We may experience financial losses in the future due to product liability claims. We have obtained limited general commercial liability insurance\plain\cf1\f51\fs16\ql coverage for our clinical trials. We intend to expand our insurance coverage to include the sale of commercial products if we obtain marketing approval\plain\cf1\f51\fs16\ql for any of our product candidates. However, we may not be able to maintain insurance coverage at a reasonable cost or in sufficient amounts to protect us\plain\cf1\f51\fs16\ql against losses. If a successful product liability claim or series of claims is brought against us for uninsured liabilities or in excess of insured liabilities, our\plain\cf1\f51\fs16\ql assets may not be sufficient to cover such claims and our business operations could be impaired.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\i\ql We may engage in future acquisitions that increase our capital requirements, dilute our stockholders, cause us to incur debt or assume contingent\plain\cf1\f51\fs16\b\i\ql liabilities and subject us to other risks.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql We actively evaluate various strategic transactions on an ongoing basis, including licensing or acquiring complementary products, technologies or\plain\cf1\f51\fs16\ql businesses. Any potential acquisitions may entail numerous risks, including increased operating expenses and cash requirements, assimilation of operations\plain\cf1\f51\fs16\ql and products, retention of key employees, diversion of our management\u8217?s attention and uncertainties in our ability to maintain key business\plain\cf1\f51\fs16\ql relationships of the acquired entities. In addition, if we undertake acquisitions, we may issue dilutive securities, assume or incur debt obligations, incur\plain\cf1\f51\fs16\ql large one-time expenses and acquire intangible assets that could result in significant future amortization expense. Moreover, we may not be able to locate\plain\cf1\f51\fs16\ql suitable acquisition opportunities and this inability could impair our ability to grow or obtain access to technology or products that may be important to\plain\cf1\f51\fs16\ql the development of our business.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 23
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\ul{\field{\*\fldinst HYPERLINK \\l "toc_2281309" }{\*\fldrslt\cf3\f52\fs16\b\ql Table of Contents}}\par\pard\plain\cf1\f51\fs16\b\i\ql The holders of our Series A convertible preferred stock have voting and other rights that they could exercise against your best interests.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql The holders of our Series A convertible preferred stock have rights to designate two members of our Board of Directors and to vote as a separate\plain\cf1\f51\fs16\ql class on certain significant corporate transactions, including the issuance of securities that would rank on a par with or senior to the Series A convertible\plain\cf1\f51\fs16\ql preferred stock or the incurrence of debt in excess of $20 million. In addition, upon liquidation or dissolution of the company (including a merger or\plain\cf1\f51\fs16\ql acquisition of the company), the holders of our Series A convertible preferred stock are entitled to receive a liquidation preference in an amount equal to\plain\cf1\f51\fs16\ql the greater of: (a) $25.00 per share of Series A convertible preferred stock; or (b) the amount that would have been paid had each such share of Series A\plain\cf1\f51\fs16\ql convertible preferred stock been converted to common stock. The holders of Series A convertible preferred stock also have the right under certain\plain\cf1\f51\fs16\ql circumstances in the event of a merger or acquisition of the company to receive their liquidation preference in cash or a combination of cash and new\plain\cf1\f51\fs16\ql preferred securities of the acquiring or surviving corporation. The holders of Series A convertible preferred stock may exercise these rights to the\plain\cf1\f51\fs16\ql detriment of our common stockholders.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql The holders of our Series A convertible preferred stock also have the right to require us to register for resale the shares of our common stock that\plain\cf1\f51\fs16\ql they acquire upon conversion of their Series A convertible preferred stock or upon exercise of their warrants to purchase our common stock. Future sales\plain\cf1\f51\fs16\ql in the public market of such common stock, or the perception that such sales could occur, could adversely affect the prevailing market price of our\plain\cf1\f51\fs16\ql common stock and could make it more difficult for us to raise funds through a public offering of our equity securities.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\i\ql Our existing stockholders have significant control of our management and affairs.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Our executive officers and directors and holders of greater than five percent of our outstanding voting stock, together with entities that may be\plain\cf1\f51\fs16\ql deemed affiliates of, or related to, such persons or entities, beneficially own approximately 56% percent of our voting power. As a result, these\plain\cf1\f51\fs16\ql stockholders, acting together, may be able to control our management and affairs and matters requiring stockholder approval, including the election of\plain\cf1\f51\fs16\ql directors and approval of significant corporate transactions, such as mergers, consolidations or the sale of substantially all of our assets. Consequently, this\plain\cf1\f51\fs16\ql concentration of ownership may have the effect of delaying, deferring or preventing a change in control, including a merger, consolidation, takeover or\plain\cf1\f51\fs16\ql other business combination involving us or discourage a potential acquirer from making a tender offer or otherwise attempting to obtain control, which\plain\cf1\f51\fs16\ql might affect the market price of our common stock.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\i\ql Anti-takeover provisions could make it more difficult for a third party to acquire us.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql In addition to the 1,640,000 shares of Series A convertible preferred stock that are currently outstanding, our Board of Directors has the authority to\plain\cf1\f51\fs16\ql issue up to 3,360,000 shares of preferred stock and to determine the price, rights, preferences, privileges and restrictions, including voting rights, of those\plain\cf1\f51\fs16\ql shares without any further vote or action by the stockholders. The rights of the holders of common stock may be subject to, and may be adversely\plain\cf1\f51\fs16\ql affected by, the rights of the holders of any preferred stock that may be issued in the future. The issuance of preferred stock may have the effect of\plain\cf1\f51\fs16\ql delaying, deferring or preventing a change of control of Seattle Genetics without further action by the stockholders and may adversely affect the voting\plain\cf1\f51\fs16\ql and other rights of the holders of common stock. Further, certain provisions of our charter documents, including provisions eliminating the ability of\plain\cf1\f51\fs16\ql stockholders to take action by written consent and limiting the ability of stockholders to raise matters at a meeting of stockholders without giving advance\plain\cf1\f51\fs16\ql notice, may have the effect of delaying or preventing changes in control or management of Seattle Genetics, which could have an adverse effect on the\plain\cf1\f51\fs16\ql market price of our stock. In addition, our charter documents provide for a classified board, which may make it more difficult for a third party to gain\plain\cf1\f51\fs16\ql control of our Board of Directors. Similarly, state anti-takeover laws in Delaware and Washington related to corporate takeovers may prevent or delay a\plain\cf1\f51\fs16\ql change of control of Seattle Genetics.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 24
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\ul{\field{\*\fldinst HYPERLINK \\l "toc_2281309" }{\*\fldrslt\cf3\f52\fs16\b\ql Table of Contents}}{\*\bkmkstart item_1_3_4}{\*\bkmkend item_1_3_4}{\*\bkmkstart tx20648_7_2281309}{\*\bkmkend tx20648_7_2281309}\par\pard\plain\cf1\f51\fs16\b\ql Item 3. Quantitative and Qualitative Disclosures About Market Risk\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql In accordance with our policy, we do not use derivative financial instruments in our investment portfolio. We invest in high quality interest-bearing\plain\cf1\f51\fs16\ql instruments, consisting of U.S. government and agency securities, high-grade U.S. corporate bonds, taxable municipal bonds, mortgage-backed securities,\plain\cf1\f51\fs16\ql commercial paper and money market accounts. Such securities are subject to interest rate risk and will rise and fall in value if market interest rates\plain\cf1\f51\fs16\ql change; however, we do not expect any material loss from such interest rate changes.\par\pard\plain\cf1\f51\fs13\ql \~{\*\bkmkstart item_1_3_5}{\*\bkmkend item_1_3_5}{\*\bkmkstart tx20648_8_2281309}{\*\bkmkend tx20648_8_2281309}\par\pard\plain\cf1\f51\fs16\b\ql Item 4. Controls and Procedures\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\i\ql Disclosure Controls and Procedures.\plain\cf1\f51\fs16\ql \~\~\~\~The Company\u8217?s management, with the participation of the Company\u8217?s Chief Executive Officer\plain\cf1\f51\fs16\ql and Chief Financial Officer, has evaluated the effectiveness of the Company\u8217?s disclosure controls and procedures as of the end of the period\plain\cf1\f51\fs16\ql covered by this report. Based on such evaluation, the Company\u8217?s Chief Executive Officer and Chief Financial Officer have concluded that, as of\plain\cf1\f51\fs16\ql the end of such period, the Company\u8217?s disclosure controls and procedures are effective in recording, processing, summarizing and reporting, on a\plain\cf1\f51\fs16\ql timely basis, information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\i\ql Internal Control Over Financial Reporting.\plain\cf1\f51\fs16\ql \~\~\~\~There have not been any changes in the Company\u8217?s internal control over financial reporting\plain\cf1\f51\fs16\ql during the fiscal quarter to which this report relates that have materially affected, or are reasonably likely to materially affect, the Company\u8217?s\plain\cf1\f51\fs16\ql internal control over financial reporting.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 25
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\ul{\field{\*\fldinst HYPERLINK \\l "toc_2281309" }{\*\fldrslt\cf3\f52\fs16\b\ql Table of Contents}}{\*\bkmkstart part_1_2_2}{\*\bkmkend part_1_2_2}\par\pard\plain\cf1\f51\fs16\b\ql PART II.\~\~\~\~OTHER INFORMATION\par\pard\plain\cf1\f51\fs13\ql \~{\*\bkmkstart item_1_3_6}{\*\bkmkend item_1_3_6}{\*\bkmkstart tx20648_9_2281309}{\*\bkmkend tx20648_9_2281309}\par\pard\plain\cf1\f51\fs16\b\ql Item 1. Legal Proceedings\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql None.\par\pard\plain\cf1\f51\fs13\ql \~{\*\bkmkstart item_1_3_7}{\*\bkmkend item_1_3_7}{\*\bkmkstart tx20648_10_2281309}{\*\bkmkend tx20648_10_2281309}\par\pard\plain\cf1\f51\fs16\b\ql Item 2. Changes in Securities and Use of Proceeds\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ql (c)\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ql Recent Sales of Unregistered Securities\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql On July 8, 2003, Seattle Genetics completed a $41 million private placement transaction in which we issued 1,640,000 shares of Series A\plain\cf1\f51\fs16\ql convertible preferred stock, which are convertible into 16.4 million shares of common stock, and warrants to purchase 2,050,000 shares of common stock.\plain\cf1\f51\fs16\ql We received approximately $40.4 million in cash consideration, net of $625,000 of issuance costs and estimated future registration costs, from the sale\plain\cf1\f51\fs16\ql and issuance of Series A convertible preferred stock and warrants. J.P. Morgan Partners and Baker Brothers Investments led the private placement, with\plain\cf1\f51\fs16\ql additional participation by Delphi Ventures, BA Venture Partners and T. Rowe Price Health Sciences Fund, Inc. Because the transaction did not involve a\plain\cf1\f51\fs16\ql public offering, the issuance of the securities was exempt from registration under the Securities Act of 1933, as amended, in reliance on Section 4(2) of\plain\cf1\f51\fs16\ql such Act. The 1,640,000 outstanding shares of Series A convertible preferred stock are initially convertible (at the option of the holders at any time after\plain\cf1\f51\fs16\ql July 8, 2004) into 16.4 million shares of Seattle Genetics common stock.\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ql (d)\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ql Use of Proceeds from Sale of Registered Securities\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Seattle Genetics completed its initial public offering of common stock pursuant to a Registration Statement on Form S-1 under the Securities Act\plain\cf1\f51\fs16\ql (File No. 333-50266) that was declared effective by the SEC on March 6, 2001. The aggregate gross proceeds of the offering were $49.0 million, which\plain\cf1\f51\fs16\ql resulted in net proceeds to us of approximately $44.4 million after deducting underwriting discounts and commissions and other offering expenses of $4.6\plain\cf1\f51\fs16\ql million. As of June 30, 2003, we have used all of the proceeds of our initial public offering, which include $21.2 million for preclinical research and\plain\cf1\f51\fs16\ql development activities and general corporate purposes, $12.9 million for contract manufacturing costs, $7.3 million for purchase of property and equipment\plain\cf1\f51\fs16\ql and $3.0 million for clinical trial expenses.\par\pard\plain\cf1\f51\fs13\ql \~{\*\bkmkstart item_1_3_8}{\*\bkmkend item_1_3_8}{\*\bkmkstart tx20648_11_2281309}{\*\bkmkend tx20648_11_2281309}\par\pard\plain\cf1\f51\fs16\b\ql Item 4. Submission of Matters to a Vote of Security Holders\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql At our annual meeting of stockholders held on May 14, 2003, stockholders representing a total of 28,841,897 shares of common stock entitled to\plain\cf1\f51\fs16\ql vote at the meeting, constituting a quorum, voted to approve the following proposals by the margins indicated:\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 1.\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql To elect two directors to our board of directors to hold office until the 2006 annual meeting of stockholders.\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\trqc\clvertalb\cellx5987\clvertalb\cellx6148\clvertalb\cellx8099\trrh506
\pard\plain\intbl\cf1\f51\fs13\b\ql Name\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc Number of Shares
\par\pard\plain\intbl\fs16\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\trqc\clvertalb\cellx5987\clvertalb\cellx6148\clvertalb\cellx8099\trrh506\row}}}
{\trowd\trqc\clvertalb\cellx5987\clvertalb\cellx6148\clvertalb\cellx7199\clvertalb\cellx7370\clvertalb\cellx8100\trrh506
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc For
\par\pard\plain\intbl\fs16\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs13\b\qc Withheld
\par\pard\plain\intbl\fs16\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\trqc\clvertalb\cellx5987\clvertalb\cellx6148\clvertalb\cellx7199\clvertalb\cellx7370\clvertalb\cellx8100\trrh506\row}}}
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx5987\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6148\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7199\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7370\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8100\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Clay B. Siegall, Ph.D.\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 28,380,815\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 461,082\cell{
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx5987\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx6148\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7199\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7370\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8100\trrh206\row}}}
{\trowd\trqc\cellx5987\clvertalb\cellx6148\clvertalb\cellx7199\clvertalb\cellx7370\clvertalb\cellx8100\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Douglas E. Williams, Ph.D.\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 28,680,645\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 161,252\cell{
{\trowd\trqc\cellx5987\clvertalb\cellx6148\clvertalb\cellx7199\clvertalb\cellx7370\clvertalb\cellx8100\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 2.\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql To ratify the appointment of PricewaterhouseCoopers LLP as our independent accountants for the fiscal year ending December 31, 2003.\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6886\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7047\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8100\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql For\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 28,833,151\cell{
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6886\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7047\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8100\trrh206\row}}}
{\trowd\trqc\cellx6886\clvertalb\cellx7047\clvertalb\cellx8100\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Against\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 6,406\cell{
{\trowd\trqc\cellx6886\clvertalb\cellx7047\clvertalb\cellx8100\trrh206\row}}}
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6886\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7047\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8100\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Abstain\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 2,340\cell{
{\trowd\trqc\clshdng100\clcfpat11\clcbpat11\cellx6886\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx7047\clvertalb\clshdng100\clcfpat11\clcbpat11\cellx8100\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 26
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\ul{\field{\*\fldinst HYPERLINK \\l "toc_2281309" }{\*\fldrslt\cf3\f52\fs16\b\ql Table of Contents}}{\*\bkmkstart item_1_3_9}{\*\bkmkend item_1_3_9}{\*\bkmkstart tx20648_12_2281309}{\*\bkmkend tx20648_12_2281309}\par\pard\plain\cf1\f51\fs16\b\ql Item 6. Exhibits and Reports on Form 8-K\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\ql (a)\~\~\~\~Exhibits:\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\clvertalb\cellx848\clvertalb\cellx1354\clvertalb\cellx10800\trrh506
\pard\plain\intbl\cf1\f51\fs13\b\qc Number
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\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
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\pard\plain\intbl\cf1\f51\fs16\ql 3.1*\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Amended and Restated Certificate of Incorporation of Seattle Genetics, Inc.\cell{
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\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
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\pard\plain\intbl\cf1\f51\fs16\ql 3.2\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Amended and Restated Bylaws of Seattle Genetics, Inc.\cell{
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\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
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\pard\plain\intbl\cf1\f51\fs16\ql 3.3**\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Certificate of Designations of Series A Convertible Preferred Stock.\cell{
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\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
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\pard\plain\intbl\cf1\f51\fs16\ql 4.1*\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Specimen Stock Certificate.\cell{
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\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
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{\trowd\cellx848\clvertalb\cellx1354\clvertalb\cellx10800\trrh412
\pard\plain\intbl\cf1\f51\fs16\ql 4.2*\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Amended and Restated Investors\u8217? Rights Agreement dated December 22, 1999 among Seattle Genetics, Inc. and certain of its\plain\intbl\cf1\f51\fs16\ql stockholders.\cell{
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\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
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\pard\plain\intbl\cf1\f51\fs16\ql 4.3\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Amendment to Amended and Restated Investors\u8217? Rights Agreement dated July 8, 2003 among Seattle Genetics, Inc. and certain\plain\intbl\cf1\f51\fs16\ql of its stockholders.\cell{
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\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
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\pard\plain\intbl\cf1\f51\fs16\ql 4.4***\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Investor Rights Agreement dated July 8, 2003 among Seattle Genetics, Inc. and certain of its stockholders.\cell{
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\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
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\pard\plain\intbl\cf1\f51\fs16\ql 10.1\u8224?\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql First Amendment to Lease dated May 28, 2003 between Seattle Genetics, Inc. and B&N 141-302, LLC.\cell{
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\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
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\pard\plain\intbl\cf1\f51\fs16\ql 31.1\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Certification of Chief Executive Officer pursuant to Rule 13a-14(a).\cell{
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\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
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{\trowd\cellx848\clvertalb\cellx1354\clvertalb\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs16\ql 31.2\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Certification of Chief Financial Officer pursuant to Rule 13a-14(a).\cell{
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\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
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\pard\plain\intbl\cf1\f51\fs16\ql 32.1\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350.\cell{
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\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
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\pard\plain\intbl\cf1\f51\fs16\ql 32.2\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350.\cell{
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\par\pard\plain
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\pard\plain\intbl\cf1\f51\fs16\ql *\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Previously filed as an exhibit to Registrant\u8217?s registration statement on Form S-1, File No. 333-50266, originally filed with the Commission\plain\intbl\cf1\f51\fs16\ql on November 20, 2000, as subsequently amended, and incorporated herein by reference.\cell{
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\par\pard\plain
{\trowd\cellx323\cellx430\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs16\ql **\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Previously filed as an exhibit to the registrant\u8217?s Current Report on Form 8-K filed with the Commission on June 5, 2003.\cell{
{\trowd\cellx323\cellx430\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\cellx323\cellx430\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs16\ql ***\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Previously filed as an exhibit to the registrant\u8217?s Current Report on Form 8-K filed with the Commission on May 15, 2003.\cell{
{\trowd\cellx323\cellx430\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\cellx557\cellx665\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs16\ql \u8224?\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Confidential treatment requested as to certain portions of this Exhibit.\cell{
{\trowd\cellx557\cellx665\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\ql (b)\~\~\~\~Reports on Form 8-K\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\li88\cf1\f51\fs16\ql On April 23, 2003, we filed a Form 8-K announcing financial results for the first quarter of 2003.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\li88\cf1\f51\fs16\ql On May 15, 2003, we filed a Form 8-K announcing that we had entered into a definitive agreement for a $41 million private placement financing\plain\li88\cf1\f51\fs16\ql with J.P. Morgan Partners, Baker Brothers Investments, Delphi Ventures, BA Venture Partners and T. Rowe Price Health Sciences Fund.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\li88\cf1\f51\fs16\ql On June 5, 2003, we filed a Form 8-K announcing that we had modified the voting rights for the Series A convertible preferred stock to be issued\plain\li88\cf1\f51\fs16\ql in our proposed $41 million private placement financing to ensure compliance with The Nasdaq National Market\u8217?s voting rights rules for\plain\li88\cf1\f51\fs16\ql convertible securities.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 27
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\ul{\field{\*\fldinst HYPERLINK \\l "toc_2281309" }{\*\fldrslt\cf3\f52\fs16\b\ql Table of Contents}}{\*\bkmkstart part_1_2_3}{\*\bkmkend part_1_2_3}{\*\bkmkstart tx20648_13_2281309}{\*\bkmkend tx20648_13_2281309}\par\pard\plain\cf1\f51\fs16\b\qc SIGNATURES\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed\plain\cf1\f51\fs16\ql on its behalf by the undersigned, thereunto duly authorized.\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql S\plain\intbl\li176\cf1\f51\fs11\ql EATTLE\plain\intbl\li176\cf1\f51\fs16\ql G\plain\intbl\li176\cf1\f51\fs11\ql ENETICS\plain\intbl\li176\cf1\f51\fs16\ql , I\plain\intbl\li176\cf1\f51\fs11\ql NC\plain\intbl\li176\cf1\f51\fs16\ql .\cell{
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\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
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{\trowd\clvertalb\cellx360\clvertalb\cellx601\clvertalb\cellx4320\trrh465
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql By:\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qc /s/\~\~\~\~T\plain\intbl\cf1\f51\fs11\qc IM\plain\intbl\cf1\f51\fs16\qc J. C\plain\intbl\cf1\f51\fs11\qc ARROLL\~\~\~\~\~\~\~\~\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
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\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\qc Tim J. Carroll\par\pard\plain\intbl\cf1\f51\fs16\i\qc Chief Financial Officer\cell{
{\trowd\clvertalb\cellx360\clvertalb\cellx601\clvertalb\cellx4320\trrh412\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\li44\cf1\f51\fs16\ql Date:\~\~\~\~August 12, 2003\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 28
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\ul{\field{\*\fldinst HYPERLINK \\l "toc_2281309" }{\*\fldrslt\cf3\f52\fs16\b\ql Table of Contents}}{\*\bkmkstart part_1_2_4}{\*\bkmkend part_1_2_4}{\*\bkmkstart tx20648_14_2281309}{\*\bkmkend tx20648_14_2281309}\par\pard\plain\cf1\f51\fs16\b\qc EXHIBIT INDEX\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\clvertalb\cellx848\clvertalb\cellx1354\clvertalb\cellx10800\trrh506
\pard\plain\intbl\cf1\f51\fs13\b\qc Number
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\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
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\pard\plain\intbl\cf1\f51\fs16\ql 3.1*\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Amended and Restated Certificate of Incorporation of Seattle Genetics, Inc.\cell{
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\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
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\pard\plain\intbl\cf1\f51\fs16\ql 3.2\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Amended and Restated Bylaws of Seattle Genetics, Inc.\cell{
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\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
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\pard\plain\intbl\cf1\f51\fs16\ql 3.3**\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Certificate of Designations of Series A Convertible Preferred Stock\cell{
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{\trowd\clvertalc\cellx848\clvertalc\cellx10799\trrh66
\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
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\pard\plain\intbl\cf1\f51\fs16\ql 4.1*\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Specimen Stock Certificate.\cell{
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\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
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\pard\plain\intbl\cf1\f51\fs16\ql 4.2*\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Amended and Restated Investors\u8217? Rights Agreement dated December 22, 1999 among Seattle Genetics, Inc. and certain of its\plain\intbl\cf1\f51\fs16\ql stockholders.\cell{
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\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
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{\trowd\cellx848\clvertalb\cellx1354\clvertalb\cellx10800\trrh412
\pard\plain\intbl\cf1\f51\fs16\ql 4.3\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Amendment to Amended and Restated Investors\u8217? Rights Agreement dated July 8, 2003 among Seattle Genetics, Inc. and certain\plain\intbl\cf1\f51\fs16\ql of its stockholders\cell{
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\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
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{\trowd\cellx848\clvertalb\cellx1354\clvertalb\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs16\ql 4.4***\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Investor Rights Agreement dated July 8, 2003 among Seattle Genetics, Inc. and certain of its stockholders.\cell{
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\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
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\pard\plain\intbl\cf1\f51\fs16\ql 10.1\u8224?\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql First Amendment to Lease dated May 28, 2003 between Seattle Genetics, Inc. and B&N 141-302, LLC\cell{
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\pard\plain\intbl\cf1\f51\fs16\ql 31.1\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Certification of Chief Executive Officer pursuant to Rule 13a-14(a)\cell{
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\pard\plain\intbl\cf1\f51\fs16\ql 31.2\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Certification of Chief Financial Officer pursuant to Rule 13a-14(a)\cell{
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\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
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\pard\plain\intbl\cf1\f51\fs16\ql 32.1\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350\cell{
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\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
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\pard\plain\intbl\cf1\f51\fs16\ql 32.2\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350\cell{
{\trowd\cellx848\clvertalb\cellx1354\clvertalb\cellx10800\trrh206\row}}}\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par
\par\pard\plain
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\pard\plain\intbl\cf1\f51\fs16\ql *\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Previously filed as an exhibit to the registrant\u8217?s registration statement on Form S-1, File No. 333-50266, originally filed with the\plain\intbl\cf1\f51\fs16\ql Commission on November 20, 2000, as subsequently amended, and incorporated herein by reference.\cell{
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\par\pard\plain
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\pard\plain\intbl\cf1\f51\fs16\ql **\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Previously filed as an exhibit to the registrant\u8217?s Current Report on Form 8-K filed with the Commission on June 5, 2003.\cell{
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\par\pard\plain
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\pard\plain\intbl\cf1\f51\fs16\ql ***\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Previously filed as an exhibit to the registrant\u8217?s Current Report on Form 8-K filed with the Commission on May 15, 2003.\cell{
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\par\pard\plain
{\trowd\cellx557\cellx665\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs16\ql \u8224?\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Confidential treatment requested as to certain portions of this Exhibit.\cell{
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\page{\*\bkmkstart doc_1_3}{\*\bkmkend doc_1_3}\pard\plain\cf1\f51\fs16\b\qr Exhibit 3.2\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qc AMENDED AND RESTATED BYLAWS\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qc OF\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qc SEATTLE GENETICS, INC.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qc AS AMENDED AND RESTATED EFFECTIVE JULY 8, 2003
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\cf1\f51\fs16\b\qc TABLE OF CONTENTS\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
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\par\pard\plain\intbl\fs16\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql ARTICLE II\u8212?MEETINGS OF STOCKHOLDERS\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 1\cell{
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{\trowd\cellx1086\clvertalb\cellx1670\clvertalb\cellx10180\clvertalb\cellx10492\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~\~\~\~\~\~\~\~\~2.8\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Conduct of Business\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 5\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql ARTICLE III\u8212?DIRECTORS\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 7\cell{
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{\trowd\clvertalc\cellx1086\clvertalc\cellx10181\clvertalc\cellx10798\trrh66
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~\~\~\~\~\~\~\~\~3.8\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Quorum\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 10\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~\~\~\~\~\~\~\~\~3.9\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Waiver of Notice\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 10\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql ARTICLE IV\u8212?COMMITTEES\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 12\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql ARTICLE V\u8212?OFFICERS\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 13\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~\~\~\~\~\~\~\~\~5.5\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Vacancies in Offices\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 13\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~\~\~\~\~\~\~\~\~5.6\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Chief Executive Officer\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 14\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~\~\~\~\~\~\~\~\~5.7\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql President\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 14\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~\~\~\~\~\~\~\~\~5.8\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Vice Presidents\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 14\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~\~\~\~\~\~\~\~\~5.9\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Secretary\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 14\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~\~\~\~\~\~\~\~\~5.10\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Chief Financial Officer\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 15\cell{
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{\trowd\cellx1099\clvertalb\cellx1314\clvertalb\cellx10367\clvertalb\cellx10582\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~\~\~\~\~\~\~\~\~5.11\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Representation of Shares of Other Corporations\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 15\cell{
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{\trowd\cellx1099\clvertalb\cellx1314\clvertalb\cellx10367\clvertalb\cellx10582\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~\~\~\~\~\~\~\~\~5.12\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Authority and Duties of Officers\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 15\cell{
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\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
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\pard\plain\intbl\cf1\f51\fs16\ql ARTICLE VI\u8212?INDEMNIFICATION OF DIRECTORS, OFFICERS, EMPLOYEES, AND OTHER AGENTS\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 16\cell{
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{\trowd\clvertalc\cellx1099\clvertalc\cellx10368\clvertalc\cellx10799\trrh66
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~\~\~\~\~\~\~\~\~6.3\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Payment of Expenses in Advance\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 16\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~\~\~\~\~\~\~\~\~6.4\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Indemnity Not Exclusive\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 16\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~\~\~\~\~\~\~\~\~6.5\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Insurance\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 17\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~\~\~\~\~\~\~\~\~6.6\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Conflicts\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 17\cell{
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\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql ARTICLE VII\u8212?RECORDS AND REPORTS\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 17\cell{
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\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~\~\~\~\~\~\~\~\~7.2\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Inspection by Directors\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 18\cell{
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\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql ARTICLE VIII\u8212?GENERAL MATTERS\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 18\cell{
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{\trowd\clvertalc\cellx1099\clvertalc\cellx10368\clvertalc\cellx10799\trrh66
\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~\~\~\~\~\~\~\~\~8.1\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Checks\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 18\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~\~\~\~\~\~\~\~\~8.2\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Execution of Corporate Contracts And Instruments\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 18\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~\~\~\~\~\~\~\~\~8.3\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Stock Certificates; Partly Paid Shares\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 19\cell{
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{\trowd\cellx1099\clvertalb\cellx1314\clvertalb\cellx10367\clvertalb\cellx10582\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~\~\~\~\~\~\~\~\~8.4\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Special Designation on Certificates\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 19\cell{
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{\trowd\cellx1099\clvertalb\cellx1314\clvertalb\cellx10367\clvertalb\cellx10582\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~\~\~\~\~\~\~\~\~8.5\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Lost Certificates\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 19\cell{
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{\trowd\cellx1099\clvertalb\cellx1314\clvertalb\cellx10367\clvertalb\cellx10582\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~\~\~\~\~\~\~\~\~8.6\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Construction; Definitions\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 20\cell{
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{\trowd\cellx1099\clvertalb\cellx1314\clvertalb\cellx10367\clvertalb\cellx10582\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~\~\~\~\~\~\~\~\~8.7\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Dividends\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 20\cell{
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{\trowd\cellx1099\clvertalb\cellx1314\clvertalb\cellx10367\clvertalb\cellx10582\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~\~\~\~\~\~\~\~\~8.8\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Fiscal Year\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 20\cell{
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{\trowd\cellx1099\clvertalb\cellx1314\clvertalb\cellx10367\clvertalb\cellx10582\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~\~\~\~\~\~\~\~\~8.9\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Seal\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 20\cell{
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{\trowd\cellx1099\clvertalb\cellx1314\clvertalb\cellx10367\clvertalb\cellx10582\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~\~\~\~\~\~\~\~\~8.10\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Transfer of Stock\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 20\cell{
{\trowd\cellx1099\clvertalb\cellx1314\clvertalb\cellx10367\clvertalb\cellx10582\clvertalb\cellx10800\trrh206\row}}}
{\trowd\cellx1099\clvertalb\cellx1314\clvertalb\cellx10367\clvertalb\cellx10582\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~\~\~\~\~\~\~\~\~8.11\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Stock Transfer Agreements\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 21\cell{
{\trowd\cellx1099\clvertalb\cellx1314\clvertalb\cellx10367\clvertalb\cellx10582\clvertalb\cellx10800\trrh206\row}}}
{\trowd\cellx1099\clvertalb\cellx1314\clvertalb\cellx10367\clvertalb\cellx10582\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~\~\~\~\~\~\~\~\~8.12\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Registered Stockholders\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 21\cell{
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{\trowd\cellx1099\clvertalb\cellx1314\clvertalb\cellx10367\clvertalb\cellx10582\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~\~\~\~\~\~\~\~\~8.13\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Facsimile Signatures\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 21\cell{
{\trowd\cellx1099\clvertalb\cellx1314\clvertalb\cellx10367\clvertalb\cellx10582\clvertalb\cellx10800\trrh206\row}}}
{\trowd\clvertalc\cellx10368\clvertalc\cellx10799\trrh66
\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
{\trowd\clvertalc\cellx10368\clvertalc\cellx10799\trrh66\row}}}
{\trowd\cellx10368\clvertalb\cellx10583\clvertalb\cellx10800\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql ARTICLE IX\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\~\cell\pard\plain\intbl\cf1\f51\fs16\qr 21\cell{
{\trowd\cellx10368\clvertalb\cellx10583\clvertalb\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc ii
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\cf1\f51\fs16\b\qc AMENDED AND RESTARTED\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qc BYLAWS\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qc OF\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qc SEATTLE GENETICS, INC.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qc ARTICLE I\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\ul\qc CORPORATE OFFICES\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
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\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 1.1\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Registered Office\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql The address of the Corporation\u8217?s registered office in the State of Delaware is 1013 Centre Road, Wilmington, Delaware 19085. The\plain\cf1\f51\fs16\ql name of its registered agent at such address is Corporation Service Company.\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
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\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 1.2\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Other Offices\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql The Board of Directors may at any time establish other offices at any place or places where the Corporation is qualified to do business.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qc ARTICLE II\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\ul\qc MEETINGS OF STOCKHOLDERS\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
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\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 2.1\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Place of Meetings\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Meetings of stockholders shall be held at any place, within or outside the State of Delaware, designated by the Board of Directors. In the\plain\cf1\f51\fs16\ql absence of any such designation, stockholders\u8217? meetings shall be held at the registered office of the Corporation.\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 2.2\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Annual Meeting\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql (a) The annual meeting of stockholders shall be held each year on a date and at a time designated by resolution of the Board of Directors. At\plain\cf1\f51\fs16\ql the meeting, directors shall be elected and any other proper business may be transacted.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql (b) Nominations of persons for election to the Board of Directors of the Corporation and the proposal of business to be transacted by the\plain\cf1\f51\fs16\ql stockholders may be made at an annual meeting of stockholders (i) pursuant to the Corporation\u8217?s notice with respect to such meeting, (ii) by or at\plain\cf1\f51\fs16\ql the direction of the Board of Directors or (iii) by any stockholder of the Corporation who was a stockholder of record at the time of giving of the notice\plain\cf1\f51\fs16\ql provided for in this Section 2.2, who is entitled to vote at the meeting and who has complied with the notice procedures set forth in this Section 2.2.
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\fi946\cf1\f51\fs16\li864\ql (c) For nominations or other business to be properly brought before an annual meeting by a stockholder pursuant to clause (iii) of paragraph\plain\cf1\f51\fs16\ql (b) of this Section 2.2, the stockholder must have given timely notice thereof in writing to the secretary of the Corporation, as provided in Section 2.5,\plain\cf1\f51\fs16\ql and such business must be a proper matter for stockholder action under the General Corporation Law of Delaware.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql (d) Only such business shall be conducted at an annual meeting of stockholders as shall have been brought before the meeting in accordance\plain\cf1\f51\fs16\ql with the procedures set forth in these Bylaws. The chairman of the meeting shall determine whether a nomination or any business proposed to be\plain\cf1\f51\fs16\ql transacted by the stockholders has been properly brought before the meeting and, if any proposed nomination or business has not been properly brought\plain\cf1\f51\fs16\ql before the meeting, the chairman shall declare that such proposed business or nomination shall not be presented for stockholder action at the meeting.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql (e) Nothing in this Section 2.2 shall be deemed to affect any rights of stockholders to request inclusion of proposals in the\plain\cf1\f51\fs16\ql Corporation\u8217?s proxy statement pursuant to Rule 14a-8 under the Exchange Act.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 2.3\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Special Meeting\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql (a) A special meeting of the stockholders may be called at any time by the Board of Directors, the chairman of the board, the president or by\plain\cf1\f51\fs16\ql one or more stockholders holding shares in the aggregate entitled to cast not less than 50% of the votes at that meeting.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql (b) Only such business shall be conducted at a special meeting of the stockholders as shall have been brought before the meeting pursuant to\plain\cf1\f51\fs16\ql the Corporation\u8217?s notice of meeting.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql (c) Nominations of persons for election to the Board of Directors may be made at a special meeting of stockholders, if such election is set\plain\cf1\f51\fs16\ql forth in the notice of such special meeting. Such nominations may be made either by or at the direction of the Board of Directors, or by any stockholder\plain\cf1\f51\fs16\ql of record entitled to vote at such special meeting, provided the stockholder follows the notice procedures set forth in Section 2.5.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql (d) Notwithstanding the foregoing provisions of this Section 2.3, a stockholder shall also comply with all applicable requirements of the\plain\cf1\f51\fs16\ql Securities Exchange Act of 1934 and the rules and regulations thereunder with respect to matters set forth in this Section 2.3.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 2.4\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Notice of Stockholder\u8217?s Meetings; Affidavit of Notice\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql (a) All notices of meetings of stockholders shall be in writing and shall be sent or otherwise given in accordance with this Section 2.4 of\plain\cf1\f51\fs16\ql these Bylaws not less than 10 nor more than 60 days before the date of the meeting to each stockholder entitled to vote at such meeting (or such longer\plain\cf1\f51\fs16\ql or shorter time as is required by Section 2.5 of these Bylaws, if applicable). The notice shall specify the place (if any), date, and hour of the meeting,\plain\cf1\f51\fs16\ql and, in the case of a special meeting, the purpose or purposes for which the meeting is called. Written notice of any meeting of stockholders, if mailed, is\plain\cf1\f51\fs16\ql given when deposited in the United States\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 2
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\cf1\f51\fs16\ql mail, postage prepaid, directed to the stockholder at his address as it appears on the records of the Corporation. Without limiting the manner by which\plain\cf1\f51\fs16\ql notice otherwise may be given effectively to stockholders, any notice to stockholders may be given by electronic mail or other electronic transmission, in\plain\cf1\f51\fs16\ql the manner provided in Section 232 of the Delaware General Corporation Law. An affidavit of the secretary or an assistant secretary or of the transfer\plain\cf1\f51\fs16\ql agent of the Corporation that the notice has been given shall, in the absence of fraud, be prima facie evidence of the facts stated therein.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql (b) If a special meeting is called by stockholders representing the percentage of the total votes outstanding designated in Section 2.3(a), the\plain\cf1\f51\fs16\ql request shall be in writing, specifying the time of such meeting and the general nature of the business proposed to be transacted, and shall be delivered\plain\cf1\f51\fs16\ql personally, or sent by registered mail or by facsimile transmission to the chairman of the board, the president, any vice president, or the secretary of the\plain\cf1\f51\fs16\ql corporation. No business may be transacted at such special meeting otherwise than specified in such request. The officer receiving the request shall cause\plain\cf1\f51\fs16\ql notice to be promptly given to the stockholders entitled to vote, in accordance with the provisions of this Section 2.4, that a meeting will be held at the\plain\cf1\f51\fs16\ql time requested by the person or persons calling the meeting, not less than 35 nor more than 60 days after the receipt of the request. If the notice is not\plain\cf1\f51\fs16\ql given within 20 days after the receipt of the request, the person or persons requesting the meeting may give the notice. Nothing contained in this Section\plain\cf1\f51\fs16\ql 2.4(b) shall be construed as limiting, fixing, or affecting the time when a meeting of stockholders called by action of the Board of Directors may be held.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 2.5\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Advance Notice of Stockholder Nominees and Other Stockholder Proposals\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Only persons who are nominated in accordance with the procedures set forth in this Section 2.5 shall be eligible for election as directors.\plain\cf1\f51\fs16\ql Nominations of persons for election to the Board of Directors of the Corporation may be made at a meeting of stockholders by or at the direction of the\plain\cf1\f51\fs16\ql Board of Directors or by any stockholder of the Corporation entitled to vote for the election of directors at the meeting who complies with the notice\plain\cf1\f51\fs16\ql procedures set forth in this Section 2.5. Such nominations, other than those made by or at the direction of the Board of Directors, shall be made pursuant\plain\cf1\f51\fs16\ql to timely notice in writing to the secretary of the Corporation. Stockholders may bring other business before the annual meeting, provided that timely\plain\cf1\f51\fs16\ql notice is provided to the secretary of the Corporation in accordance with this section, and provided further that such business is a proper matter for\plain\cf1\f51\fs16\ql stockholder action under the General Corporation Law of Delaware. To be timely, a stockholder\u8217?s notice shall be delivered to or mailed and\plain\cf1\f51\fs16\ql received at the principal executive offices of the Corporation not less than 90 days nor more than 120 days prior to the anniversary date of the prior\plain\cf1\f51\fs16\ql year\u8217?s meeting; provided, however, that in the event that (i) the date of the annual meeting is more than 30 days prior to or more than 60 days\plain\cf1\f51\fs16\ql after such anniversary date, and (ii) less than 60 days notice or prior public disclosure of the date of the meeting is given or made to stockholders, notice\plain\cf1\f51\fs16\ql by the stockholder to be timely must be so received not later than the close of business on the 10\plain\cf1\f51\fs11\ql\super th\plain\cf1\f51\fs16\ql day following the day on which such notice of the\plain\cf1\f51\fs16\ql date of the meeting was mailed or such public disclosure was made. Such stockholder\u8217?s notice shall set forth (a) as to each person whom the\plain\cf1\f51\fs16\ql stockholder proposes to nominate for election or re-election as a directors, (i) the name, age, business address and residence address of such person, (ii)\plain\cf1\f51\fs16\ql the principal occupation or employment of such person, (iii) the class and number of shares of the Corporation which are beneficially owned by such\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 3
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\cf1\f51\fs16\ql person and (iv) any other information relating to such person that is required to be disclosed in solicitations of proxies for election of directors, or is\plain\cf1\f51\fs16\ql otherwise required, in each case pursuant to Regulation 14A under the Securities Exchange Act of 1934 (including, without limitation, such\plain\cf1\f51\fs16\ql person\u8217?s written consent to being name in the proxy statement as a nominee and to serving as a director if elected); (b) as to any other business\plain\cf1\f51\fs16\ql that the stockholder proposes to bring before the meeting, a brief description of such business, the reasons for conducting such business at the meeting\plain\cf1\f51\fs16\ql and any material interest in such business of such stockholder and the beneficial owner, if any, on whose behalf the proposal is made; and (c) as to the\plain\cf1\f51\fs16\ql stockholder giving the notice and the beneficial owner, if any, on whose behalf the proposal is made (i) the name and address of the stockholder, as they\plain\cf1\f51\fs16\ql appear on the Corporation\u8217?s books, and of such beneficial owner and (ii) the class and number of shares of the Corporation which are owned of\plain\cf1\f51\fs16\ql record by such stockholder and beneficially by such beneficial owner. At the request of the Board of Directors any person nominated by the Board of\plain\cf1\f51\fs16\ql Directors for election as a director shall furnish to the secretary of the Corporation that information required to be set forth in a stockholder\u8217?s\plain\cf1\f51\fs16\ql notice of nomination which pertains to the nominee. No person shall be eligible for election as a director of the Corporation unless nominated in\plain\cf1\f51\fs16\ql accordance with the procedures set forth in this Section 2.5. The chairman of the meeting shall, if the facts warrant, determine and declare to the meeting\plain\cf1\f51\fs16\ql that a nomination was not made in accordance with the procedures prescribed by the Bylaws, and if he or she should so determine, he or she shall so\plain\cf1\f51\fs16\ql declare to the meeting and the defective nomination shall be disregarded.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Notwithstanding the foregoing provisions of this Section 2.5, a stockholder shall also comply with all applicable requirements of the Securities\plain\cf1\f51\fs16\ql Exchange Act of 1934 and the rules and regulations thereunder with respect to matters set forth in this Section 2.5.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 2.6\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Quorum\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql The holders of a majority of the shares of stock issued and outstanding and entitled to vote thereat, present in person or represented by proxy,\plain\cf1\f51\fs16\ql shall constitute a quorum at all meetings of the stockholders for the transaction of business except as otherwise provided by statute or by the Certificate of\plain\cf1\f51\fs16\ql Incorporation. If, however, such quorum is not present or represented at any meeting of the stockholders, then either (a) the chairman of the meeting or\plain\cf1\f51\fs16\ql (b) holders of a majority of the shares of stock entitled to vote who are present, in person or by proxy, shall have power to adjourn the meeting to\plain\cf1\f51\fs16\ql another place (if any), date or time.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 2.7\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Adjourned Meeting; Notice\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql When a meeting is adjourned to another place (if any), date or time, unless these Bylaws otherwise require, notice need not be given of the\plain\cf1\f51\fs16\ql adjourned meeting if the time and place (if any), thereof and the means of remote communications, if any, by which stockholders and proxyholders may\plain\cf1\f51\fs16\ql be deemed to be present and vote at such adjourned meeting, are announced at the meeting at which the adjournment is taken. At the adjourned meeting\plain\cf1\f51\fs16\ql the Corporation may transact any business that might have been transacted at the original meeting. If the adjournment is for more than 30 days, or if after\plain\cf1\f51\fs16\ql the adjournment a new record date is fixed for the adjourned meeting, notice of the place (if any), date and time of the adjourned meeting and the means\plain\cf1\f51\fs16\ql of remote communications, if any, by which stockholders and proxyholders may\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 4
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\cf1\f51\fs16\ql be deemed to be present and vote at such adjourned meeting shall be given to each stockholder of record entitled to vote at the meeting.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 2.8\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Conduct of Business\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql (a) Such person as the Board of Directors may have designated or, in the absence of such a person, the President of the Corporation or, in his\plain\cf1\f51\fs16\ql or her absence, such person as may be chosen by the holders of a majority of the shares entitled to vote who are present, in person or by proxy, shall call\plain\cf1\f51\fs16\ql to order any meeting of the stockholders and act as Chairman of the meeting. In the absence of the Secretary of the Corporation, the Secretary of the\plain\cf1\f51\fs16\ql meeting shall be such person as the Chairman of the meeting appoints.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql (b) The Chairman of any meeting of stockholders shall determine the order of business and the procedure at the meeting, including the\plain\cf1\f51\fs16\ql manner of voting and the conduct of business. The date and time of opening and closing of the polls for each matter upon which the stockholders will\plain\cf1\f51\fs16\ql vote at the meeting shall be announced at the meeting.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 2.9\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Voting\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql (a) The stockholders entitled to vote at any meeting of stockholders shall be determined in accordance with the provisions of Section 2.11 of\plain\cf1\f51\fs16\ql these Bylaws, subject to the provisions of Sections 217 and 218 of the General Corporation Law of Delaware (relating to voting rights of fiduciaries,\plain\cf1\f51\fs16\ql pledgors and joint owners of stock and to voting trusts and other voting agreements).\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql (b) Except as may be otherwise provided in the Certificate of Incorporation, each stockholder shall be entitled to one vote for each share of\plain\cf1\f51\fs16\ql capital stock held by such stockholder.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql (c) The Corporation may, and to the extent required by law, shall, in advance of any meeting of stockholders, appoint one or more inspectors\plain\cf1\f51\fs16\ql to act at the meeting and make a written report thereof. The Corporation may designate one or more alternate inspectors to replace any inspector who fails\plain\cf1\f51\fs16\ql to act. If no inspector or alternate is able to act at a meeting of stockholders, the person presiding at the meeting may, and to the extent required by law,\plain\cf1\f51\fs16\ql shall, appoint one or more inspectors to act at the meeting. Each inspector, before entering upon the discharge of his or her duties, shall take and sign an\plain\cf1\f51\fs16\ql oath faithfully to execute the duties of inspector with strict impartiality and according to the best of his or her ability. Every vote taken by ballots shall be\plain\cf1\f51\fs16\ql counted by an inspector or inspectors appointed by the chairman of the meeting.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql (d) All elections shall be determined by a plurality of the votes cast, and except as otherwise required by law or in the Certificate of\plain\cf1\f51\fs16\ql Incorporation or these Bylaws, all other matters shall be determined by a majority of the votes cast affirmatively or negatively.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 5
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 2.10\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Waiver of Notice\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Whenever notice is required to be given under any provision of the General Corporation Law of Delaware or of the Certificate of\plain\cf1\f51\fs16\ql Incorporation or these Bylaws, a written waiver thereof, signed by the person entitled to notice, or waiver by electronic mail or other electronic\plain\cf1\f51\fs16\ql transmission by such person, whether before or after the time stated therein, shall be deemed equivalent to notice. Attendance of a person at a meeting\plain\cf1\f51\fs16\ql shall constitute a waiver of notice of such meeting, except when the person attends a meeting for the express purpose of objecting, at the beginning of the\plain\cf1\f51\fs16\ql meeting, to the transaction of any business because the meeting is not lawfully called or convened. Neither the business to be transacted at, nor the\plain\cf1\f51\fs16\ql purpose of, any regular or special meeting of the stockholders need be specified in any written waiver of notice, or any waiver of notice by electronic\plain\cf1\f51\fs16\ql transmission, unless so required by the Certificate of Incorporation or these Bylaws.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 2.11\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Record Date for Stockholder Notice; Voting\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql In order that the Corporation may determine the stockholders entitled to notice of or to vote at any meeting of stockholders or any\plain\cf1\f51\fs16\ql adjournment thereof or entitled to receive payment of any dividend or other distribution or allotment of any rights, or entitled to exercise any rights in\plain\cf1\f51\fs16\ql respect of any change, conversion or exchange of stock or for the purpose of any other lawful action, the Board of Directors may fix, in advance, a\plain\cf1\f51\fs16\ql record date, which shall not be more than 60 nor less than 10 days before the date of such meeting, nor more than 60 days prior to any other action. If\plain\cf1\f51\fs16\ql the Board of Directors does not so fix a record date:\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql (a) The record date for determining stockholders entitled to notice of or to vote at a meeting of stockholders shall be at the close of business\plain\cf1\f51\fs16\ql on the day next preceding the day on which notice is given, or, if notice is waived, at the close of business on the day next preceding the day on which\plain\cf1\f51\fs16\ql the meeting is held.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql (b) The record date for determining stockholders for any other purpose shall be at the close of business on the day on which the Board of\plain\cf1\f51\fs16\ql Directors adopts the resolution relating thereto.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql A determination of stockholders of record entitled to notice of or to vote at a meeting of stockholders shall apply to any adjournment of the\plain\cf1\f51\fs16\ql meeting, if such adjournment is for thirty (30) days or less; provided, however, that the Board of Directors may fix a new record date for the adjourned\plain\cf1\f51\fs16\ql meeting.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 2.12\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Proxies\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Each stockholder entitled to vote at a meeting of stockholders may authorize another person or persons to act for such stockholder by an\plain\cf1\f51\fs16\ql instrument in writing or by an electronic transmission permitted by law filed with the secretary of the Corporation, but no such proxy shall be voted or\plain\cf1\f51\fs16\ql acted upon after three years from its date, unless the proxy provides for a longer period. A proxy shall be deemed signed if the stockholder\u8217?s name\plain\cf1\f51\fs16\ql is placed on the proxy (whether by manual signature, typewriting, electronic or telegraphic transmission or otherwise)\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 6
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\cf1\f51\fs16\ql by the stockholder or the stockholder\u8217?s attorney-in-fact. The revocability of a proxy that states on its face that it is irrevocable shall be governed\plain\cf1\f51\fs16\ql by the provisions of Section 212(e) of the General Corporation Law of Delaware.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 2.13\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Series A Preferred Stockholder Action By Written Consent Without A Meeting\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Unless otherwise provided in the certificate of incorporation, with respect to the holders of the Corporation\u8217?s Series A Preferred Stock,\plain\cf1\f51\fs16\ql any action required to be taken by such stockholders at any annual or special meeting of stockholders of the Corporation, or any action that may be taken\plain\cf1\f51\fs16\ql by such stockholders at any annual or special meeting of stockholders of the Corporation, may be taken without a meeting, without prior notice, and\plain\cf1\f51\fs16\ql without a vote if a consent in writing, setting forth the action so taken, is (i) signed by the holders of outstanding stock Series A Preferred Stock having\plain\cf1\f51\fs16\ql not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at which all shares entitled to vote\plain\cf1\f51\fs16\ql thereon were present and voted, and (ii) delivered to the Corporation in accordance with Section 228(a) of the Delaware General Corporation Law.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Every written consent shall bear the date of signature of each stockholder who signs the consent and no written consent shall be effective to\plain\cf1\f51\fs16\ql take the corporate action referred to therein unless, within 60 days of the date the earliest dated consent is delivered to the Corporation, a written consent\plain\cf1\f51\fs16\ql or consents signed by a sufficient number of holders of Series A Preferred Stock to take action are delivered to the Corporation in the manner prescribed\plain\cf1\f51\fs16\ql in this Section. A telegram, cablegram, electronic mail or other electronic transmission consenting to an action to be taken and transmitted by a\plain\cf1\f51\fs16\ql stockholder or proxyholder, or by a person or persons authorized to act for a stockholder or proxyholder, shall be deemed to be written, signed and dated\plain\cf1\f51\fs16\ql for purposes of this Section to the extent permitted by law. Any such consent shall be delivered in accordance with Section 228(d)(1) of the Delaware\plain\cf1\f51\fs16\ql General Corporation Law.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Any copy, facsimile or other reliable reproduction of a consent in writing may be substituted or used in lieu of the original writing for any\plain\cf1\f51\fs16\ql and all purposes for which the original writing could be used, provided that such copy, facsimile or other reproduction shall be a complete reproduction of\plain\cf1\f51\fs16\ql the entire original writing.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Prompt notice of the taking of the corporate action without a meeting by less than unanimous written consent of the holders of Series A\plain\cf1\f51\fs16\ql Preferred Stock entitled to vote on such action shall be given to those stockholders who have not consented in writing (including by electronic mail or\plain\cf1\f51\fs16\ql other electronic transmission as permitted by law).\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qc ARTICLE III\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\ul\qc DIRECTORS\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 3.1\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Powers\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Subject to the provisions of the General Corporation Law of Delaware and any limitations in the Certificate of Incorporation or these Bylaws\plain\cf1\f51\fs16\ql relating to action required to be approved by\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 7
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\cf1\f51\fs16\ql the stockholders or by the outstanding shares, the business and affairs of the Corporation shall be managed and all corporate powers shall be exercised by\plain\cf1\f51\fs16\ql or under the direction of the Board of Directors.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 3.2\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Number of Directors\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql The number of directors constituting the entire Board of Directors shall be eight (8).\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Thereafter, this number may be changed by a resolution of the Board of Directors or of the stockholders, subject to Section 3.4 of these\plain\cf1\f51\fs16\ql Bylaws. No reduction of the authorized number of directors shall have the effect of removing any director before such director\u8217?s term of office\plain\cf1\f51\fs16\ql expires.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 3.3\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Election, Qualification and Term of Office of Directors\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Except as provided in Section 3.4 of these Bylaws, and unless otherwise provided in the Certificate of Incorporation, directors shall be elected\plain\cf1\f51\fs16\ql at each annual meeting of stockholders to hold office until the next annual meeting. Directors need not be stockholders unless so required by the\plain\cf1\f51\fs16\ql Certificate of Incorporation or these Bylaws, wherein other qualifications for directors may be prescribed. Each director, including a director elected to fill\plain\cf1\f51\fs16\ql a vacancy, shall hold office until his or her successor is elected and qualified or until his or her earlier resignation or removal.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Unless otherwise specified in the Certificate of Incorporation, elections of directors need not be by written ballot.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 3.4\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Resignation and Vacancies\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Any director may resign at any time upon written notice to the attention of the secretary of the Corporation. When one or more directors so\plain\cf1\f51\fs16\ql resigns and the resignation is effective at a future date, a majority of the directors then in office, including those who have so resigned, shall have power\plain\cf1\f51\fs16\ql to fill such vacancy or vacancies, the vote thereon to take effect when such resignation or resignations shall become effective, and each director so chosen\plain\cf1\f51\fs16\ql shall hold office as provided in this section in the filling of other vacancies. Unless otherwise provided in the Certificate of Incorporation, and subject to\plain\cf1\f51\fs16\ql the rights of the holders of any series of Preferred Stock that may then be outstanding, a vacancy created by the removal of a director by the vote of the\plain\cf1\f51\fs16\ql stockholders or by court order may be filled only by the affirmative vote of a majority of the shares represented and voting at a duly held meeting at\plain\cf1\f51\fs16\ql which a quorum is present (which shares voting affirmatively also constitute a majority of the quorum. Each director so elected shall hold office until the\plain\cf1\f51\fs16\ql next annual meeting of the stockholders and until a successor has been elected and qualified.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Unless otherwise provided in the Certificate of Incorporation or these Bylaws:\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql (a) Vacancies and newly created directorships resulting from any increase in the authorized number of directors elected by all of the\plain\cf1\f51\fs16\ql stockholders having the right to vote as a\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 8
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\cf1\f51\fs16\ql single class may be filled by a majority of the directors then in office, although less than a quorum, or by a sole remaining director.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql (b) Whenever the holders of any class or classes of stock or series thereof are entitled to elect one or more directors by the provisions of the\plain\cf1\f51\fs16\ql Certificate of Incorporation, vacancies and newly created directorships of such class or classes or series may be filled by a majority of the directors\plain\cf1\f51\fs16\ql elected by such class or classes or series thereof then in office, or by a sole remaining director so elected.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql If at any time, by reason of death or resignation or other cause, the Corporation should have no directors in office, then any officer or any\plain\cf1\f51\fs16\ql stockholder or an executor, administrator, trustee or guardian of a stockholder, or other fiduciary entrusted with like responsibility for the person or estate\plain\cf1\f51\fs16\ql of a stockholder, may call a special meeting of stockholders in accordance with the provisions of the Certificate of Incorporation or these Bylaws, or may\plain\cf1\f51\fs16\ql apply to the Court of Chancery for a decree summarily ordering an election as provided in Section 211 of the General Corporation Law of Delaware.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql If, at the time of filling any vacancy or any newly created directorship, the directors then in office constitute less than a majority of the\plain\cf1\f51\fs16\ql whole Board of Directors (as constituted immediately prior to any such increase), then the Court of Chancery may, upon application of any stockholder or\plain\cf1\f51\fs16\ql stockholders holding at least 10% of the total number of the shares at the time outstanding having the right to vote for such directors, summarily order an\plain\cf1\f51\fs16\ql election to be held to fill any such vacancies or newly created directorships, or to replace the directors chosen by the directors then in office as aforesaid,\plain\cf1\f51\fs16\ql which election shall be governed by the provisions of Section 211 of the General Corporation Law of Delaware as far as applicable.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 3.5\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Place of Meetings; Meetings by Telephone\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql The Board of Directors of the Corporation may hold meetings, both regular and special, either within or outside the State of Delaware. Unless\plain\cf1\f51\fs16\ql otherwise restricted by the Certificate of Incorporation or these Bylaws, members of the Board of Directors, or any committee designated by the Board of\plain\cf1\f51\fs16\ql Directors, may participate in a meeting of the Board of Directors, or any committee, by means of conference telephone or other communications\plain\cf1\f51\fs16\ql equipment by means of which all persons participating in the meeting can hear each other, and such participation in a meeting shall constitute presence in\plain\cf1\f51\fs16\ql person at the meeting.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 3.6\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Regular Meetings\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Regular meetings of the Board of Directors may be held without notice at such time and at such place as shall from time to time be\plain\cf1\f51\fs16\ql determined by the Board of Directors.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 3.7\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Special Meetings; Notice\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Special meetings of the board of directors for any purpose or purposes may be called at any time by the chairman of the board, the president,\plain\cf1\f51\fs16\ql any vice president, the secretary or any two (2) directors.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 9
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\fi946\cf1\f51\fs16\li864\ql Notice of the time and place of special meetings shall be delivered personally or by telephone to each director or sent by first-class mail or\plain\cf1\f51\fs16\ql telegram, charges prepaid, addressed to each director at that director\u8217?s address as it is shown on the records of the Corporation. If the notice is\plain\cf1\f51\fs16\ql mailed, it shall be deposited in the United States mail at least four (4) days before the time of the holding of the meeting. If the notice is delivered\plain\cf1\f51\fs16\ql personally, by facsimile or by electronic transmission or by telephone, telecopy, telegram, telex or other similar means of communication, it shall be\plain\cf1\f51\fs16\ql delivered at least twenty-four (24) hours before the time of the holding of the meeting, or on such shorter notice as the person or persons calling such\plain\cf1\f51\fs16\ql meeting may deem necessary and appropriate in the circumstances. Any oral notice given personally, by facsimile or by electronic transmission or by\plain\cf1\f51\fs16\ql telephone may be communicated either to the director or to a person at the office of the director who the person giving the notice has reason to believe\plain\cf1\f51\fs16\ql will promptly communicate it to the director. The notice need not specify the purpose of the place of the meeting, if the meeting is to be held at the\plain\cf1\f51\fs16\ql principal executive office of the Corporation.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 3.8\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Quorum\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql At all meetings of the Board of Directors, a majority of the authorized number of directors shall constitute a quorum for the transaction of\plain\cf1\f51\fs16\ql business and the act of a majority of the directors present at any meeting at which there is a quorum shall be the act of the Board of Directors, except as\plain\cf1\f51\fs16\ql may be otherwise specifically provided by statute or by the Certificate of Incorporation. If a quorum is not present at any meeting of the Board of\plain\cf1\f51\fs16\ql Directors, then the directors present thereat may adjourn the meeting from time to time, without notice other than announcement at the meeting, until a\plain\cf1\f51\fs16\ql quorum is present.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql A meeting at which a quorum is initially present may continue to transact business notwithstanding the withdrawal of directors, if any action\plain\cf1\f51\fs16\ql taken is approved by at least a majority of the required quorum for that meeting.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 3.9\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Waiver of Notice\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Whenever notice is required to be given under any provision of the General Corporation Law of Delaware or of the Certificate of\plain\cf1\f51\fs16\ql Incorporation or these Bylaws, a written waiver thereof, signed by the person entitled to notice, or waiver by electronic mail or other electronic\plain\cf1\f51\fs16\ql transmission by such person, whether before or after the time stated therein, shall be deemed equivalent to notice. Attendance of a person at a meeting\plain\cf1\f51\fs16\ql shall constitute a waiver of notice of such meeting, except when the person attends a meeting for the express purpose of objecting, at the beginning of the\plain\cf1\f51\fs16\ql meeting, to the transaction of any business because the meeting is not lawfully called or convened. Neither the business to be transacted at, nor the\plain\cf1\f51\fs16\ql purpose of, any regular or special meeting of the directors, or members of a committee of directors, need be specified in any written waiver of notice\plain\cf1\f51\fs16\ql unless so required by the Certificate of Incorporation or these Bylaws.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 10
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 3.10\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Board Action by Written Consent Without a Meeting\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Unless otherwise restricted by the Certificate of Incorporation or these Bylaws, any action required or permitted to be taken at any meeting of\plain\cf1\f51\fs16\ql the Board of Directors, or of any committee thereof, may be taken without a meeting if all members of the Board of Directors or committee, as the case\plain\cf1\f51\fs16\ql may be, consent thereto in writing and the writing or writings are filed with the minutes of proceedings of the Board of Directors or committee. Written\plain\cf1\f51\fs16\ql consents representing actions taken by the board or committee may be executed by telex, telecopy or other facsimile transmission, or by electronic mail or\plain\cf1\f51\fs16\ql other electronic transmission, and such facsimile or electronic transmission shall be valid and binding to the same extent as if it were an original. If the\plain\cf1\f51\fs16\ql minutes of the board or committee are maintained in paper form, consents obtained by electronic transmission shall be reduced to written form and filed\plain\cf1\f51\fs16\ql with such minutes.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 3.11\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Fees and Compensation of Directors\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Unless otherwise restricted by the Certificate of Incorporation or these Bylaws, the Board of Directors shall have the authority to fix the\plain\cf1\f51\fs16\ql compensation of directors. No such compensation shall preclude any director from serving the Corporation in any other capacity and receiving\plain\cf1\f51\fs16\ql compensation therefor.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 3.12\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Approval of Loans to Officers\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql The Corporation may lend money to, or guarantee any obligation of, or otherwise assist any officer or other employee of the Corporation or\plain\cf1\f51\fs16\ql of its subsidiary, including any officer or employee who is a director of the Corporation or its subsidiary, whenever, in the judgment of the directors, such\plain\cf1\f51\fs16\ql loan, guaranty or assistance may reasonably be expected to benefit the Corporation. The loan, guaranty or other assistance may be with or without interest\plain\cf1\f51\fs16\ql and may be unsecured, or secured in such manner as the Board of Directors shall approve, including, without limitation, a pledge of shares of stock of the\plain\cf1\f51\fs16\ql Corporation. Nothing in this Section 3.2 contained shall be deemed to deny, limit or restrict the powers of guaranty or warranty of the Corporation at\plain\cf1\f51\fs16\ql common law or under any statute.\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 3.13\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Removal of Directors\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql No reduction of the authorized number of directors shall have the effect of removing any director prior to the expiration of such\plain\cf1\f51\fs16\ql director\u8217?s term of office.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 3.14\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Chairman of the Board of Directors\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql The Corporation may also have, at the discretion of the Board of Directors, a Chairman of the Board of Directors who shall not be\plain\cf1\f51\fs16\ql considered an officer of the Corporation.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 11
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\cf1\f51\fs16\b\qc ARTICLE IV\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\ul\qc COMMITTEES\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 4.1\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Committees of Directors\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql The Board of Directors may designate one or more committees, each committee to consist of one or more of the directors of the corporation.\plain\cf1\f51\fs16\ql The Board may designate one or more directors as alternate members of any committee, who may replace any absent or disqualified member at any\plain\cf1\f51\fs16\ql meeting of the committee. In the absence or disqualification of a member of a committee, the member or members present at any meeting and not\plain\cf1\f51\fs16\ql disqualified from voting, whether or not such member or members constitute a quorum, may unanimously appoint another member of the Board of\plain\cf1\f51\fs16\ql Directors to act at the meeting in the place of any such absent or disqualified member. Any such committee, to the extent provided in the resolution of\plain\cf1\f51\fs16\ql the Board of Directors, or in these Bylaws, shall have and may exercise all the powers and authority of the Board of Directors in the management of the\plain\cf1\f51\fs16\ql business and affairs of the corporation, and may authorize the seal of the corporation to be affixed to all papers which may require it; but no such\plain\cf1\f51\fs16\ql committee shall have the power or authority in reference to the following matters: (i) approving or adopting, or recommending to the stockholders, any\plain\cf1\f51\fs16\ql action or matter expressly required by the General Corporate Law of Delaware to be submitted to stockholders for approval or (ii) adopting, amending or\plain\cf1\f51\fs16\ql repealing any Bylaw of the corporation.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 4.2\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Committee Minutes\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Each committee shall keep regular minutes of its meetings and report the same to the Board of Directors when required.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 4.3\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Meetings and Action of Committees\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Meetings and actions of committees shall be governed by, and held and taken in accordance with, the provisions of Section 3.5 (place of\plain\cf1\f51\fs16\ql meetings and meetings by telephone), Section 3.6 (regular meetings), Section\~3.7 (special meetings and notice), Section 3.8 (quorum), Section 3.9 (waiver\plain\cf1\f51\fs16\ql of notice), and Section 3.10 (action without a meeting) of these Bylaws, with such changes in the context of such provisions as are necessary to substitute\plain\cf1\f51\fs16\ql the committee and its members for the Board of Directors and its members; provided, however, that the time of regular meetings of committees may be\plain\cf1\f51\fs16\ql determined either by resolution of the Board of Directors or by resolution of the committee, that special meetings of committees may also be called by\plain\cf1\f51\fs16\ql resolution of the Board of Directors and that notice of special meetings of committees shall also be given to all alternate members, who shall have the\plain\cf1\f51\fs16\ql right to attend all meetings of the committee. The Board of Directors may adopt rules for the government of any committee not inconsistent with the\plain\cf1\f51\fs16\ql provisions of these Bylaws.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 12
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\cf1\f51\fs16\b\qc ARTICLE V\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\ul\qc OFFICERS\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 5.1\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Officers\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql The officers of the Corporation shall be a chief executive officer, a president, a secretary, and a chief financial officer. The Corporation may\plain\cf1\f51\fs16\ql also have, at the discretion of the Board of Directors, one or more vice presidents, one or more assistant secretaries, one or more assistant treasurers, and\plain\cf1\f51\fs16\ql any such other officers as may be appointed in accordance with the provisions of Section 5.3 of these Bylaws. Any number of offices may be held by the\plain\cf1\f51\fs16\ql same person.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 5.2\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Appointment of Officers\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql The officers of the Corporation, except such officers as may be appointed in accordance with the provisions of Sections 5.3 or 5.5 of these\plain\cf1\f51\fs16\ql Bylaws, shall be appointed by the Board of Directors, subject to the rights, if any, of an officer under any contract of employment.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 5.3\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Subordinate Officers\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql The Board of Directors may appoint, or empower the chief executive officer or the president to appoint, such other officers and agents as the\plain\cf1\f51\fs16\ql business of the Corporation may require, each of whom shall hold office for such period, have such authority, and perform such duties as are provided in\plain\cf1\f51\fs16\ql these Bylaws or as the Board of Directors may from time to time determine.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 5.4\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Removal and Resignation of Officers\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Subject to the rights, if any, of an officer under any contract of employment, any officer may be removed, either with or without cause, by an\plain\cf1\f51\fs16\ql affirmative vote of the majority of the Board of Directors at any regular or special meeting of the Board of Directors or, except in the case of an officer\plain\cf1\f51\fs16\ql chosen by the Board of Directors, by any officer upon whom such power of removal may be conferred by the Board of Directors.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Any officer may resign at any time by giving written notice to the attention of the secretary of the Corporation. Any resignation shall take\plain\cf1\f51\fs16\ql effect at the date of the receipt of that notice or at any later time specified in that notice; and, unless otherwise specified in that notice, the acceptance of\plain\cf1\f51\fs16\ql the resignation shall not be necessary to make it effective. Any resignation is without prejudice to the rights, if any, of the Corporation under any contract\plain\cf1\f51\fs16\ql to which the officer is a party.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 5.5\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Vacancies in Offices\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Any vacancy occurring in any office of the Corporation shall be filled by the Board of Directors.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 13
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par
\par\pard\plain
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 5.6\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Chief Executive Officer\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Subject to such supervisory powers, if any, as may be given by the Board of Directors to the chairman of the board, if any, the chief\plain\cf1\f51\fs16\ql executive officer of the Corporation shall, subject to the control of the Board of Directors, have general supervision, direction, and control of the business\plain\cf1\f51\fs16\ql and the officers of the Corporation. He or she shall preside at all meetings of the stockholders and, in the absence or nonexistence of a chairman of the\plain\cf1\f51\fs16\ql board, at all meetings of the Board of Directors and shall have the general powers and duties of management usually vested in the office of chief\plain\cf1\f51\fs16\ql executive officer of a corporation and shall have such other powers and duties as may be prescribed by the Board of Directors or these Bylaws.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 5.7\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql President\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Subject to such supervisory powers, if any, as may be given by the Board of Directors to the chairman of the board (if any) or the chief\plain\cf1\f51\fs16\ql executive officer, the president shall have general supervision, direction, and control of the business and other officers of the Corporation. He or she shall\plain\cf1\f51\fs16\ql have the general powers and duties of management usually vested in the office of president of a corporation and such other powers and duties as may be\plain\cf1\f51\fs16\ql prescribed by the Board of Directors or these Bylaws.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 5.8\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Vice Presidents\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql In the absence or disability of the chief executive officer and president, the vice presidents, if any, in order of their rank as fixed by the\plain\cf1\f51\fs16\ql Board of Directors or, if not ranked, a vice president designated by the Board of Directors, shall perform all the duties of the president and when so\plain\cf1\f51\fs16\ql acting shall have all the powers of, and be subject to all the restrictions upon, the president. The vice presidents shall have such other powers and perform\plain\cf1\f51\fs16\ql such other duties as from time to time may be prescribed for them respectively by the Board of Directors, these Bylaws, the president or the chairman of\plain\cf1\f51\fs16\ql the board.\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 5.9\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Secretary\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql The secretary shall keep or cause to be kept, at the principal executive office of the Corporation or such other place as the Board of Directors\plain\cf1\f51\fs16\ql may direct, a book of minutes of all meetings and actions of directors, committees of directors, and stockholders. The minutes shall show the time and\plain\cf1\f51\fs16\ql place of each meeting, the names of those present at directors\u8217? meetings or committee meetings, the number of shares present or represented at\plain\cf1\f51\fs16\ql stockholders\u8217? meetings, and the proceedings thereof.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql The secretary shall keep, or cause to be kept, at the principal executive office of the Corporation or at the office of the Corporation\u8217?s\plain\cf1\f51\fs16\ql transfer agent or registrar, as determined by resolution of the Board Of Directors, a share register, or a duplicate share register, showing the names of all\plain\cf1\f51\fs16\ql stockholders and their addresses, the number and classes of shares held by each, the number and date of certificates evidencing such shares, and the\plain\cf1\f51\fs16\ql number and date of cancellation of every certificate surrendered for cancellation.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 14
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\fi946\cf1\f51\fs16\li864\ql The secretary shall give, or cause to be given, notice of all meetings of the stockholders and of the Board of Directors required to be given\plain\cf1\f51\fs16\ql by law or by these Bylaws. He or she shall keep the seal of the Corporation, if one be adopted, in safe custody and shall have such other powers and\plain\cf1\f51\fs16\ql perform such other duties as may be prescribed by the Board of Directors or by these Bylaws.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 5.10\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Chief Financial Officer\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql The chief financial officer shall keep and maintain, or cause to be kept and maintained, adequate and correct books and records of accounts\plain\cf1\f51\fs16\ql of the properties and business transactions of the Corporation, including accounts of its assets, liabilities, receipts, disbursements, gains, losses, capital\plain\cf1\f51\fs16\ql retained earnings, and shares. The books of account shall at all reasonable times be open to inspection by any director.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql The chief financial officer shall deposit all moneys and other valuables in the name and to the credit of the Corporation with such\plain\cf1\f51\fs16\ql depositories as may be designated by the Board of Directors. He or she shall disburse the funds of the Corporation as may be ordered by the Board of\plain\cf1\f51\fs16\ql Directors, shall render to the president, the chief executive officer, or the directors, upon request, an account of all his or her transactions as chief\plain\cf1\f51\fs16\ql financial officer and of the financial condition of the Corporation, and shall have other powers and perform such other duties as may be prescribed by the\plain\cf1\f51\fs16\ql Board of Directors or the Bylaws.\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 5.11\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Representation of Shares of Other Corporations\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql The chairman of the board, the chief executive officer, the president, any vice president, the chief financial officer, the secretary or assistant\plain\cf1\f51\fs16\ql secretary of this Corporation, or any other person authorized by the Board of Directors or the chief executive officer or the president or a vice president,\plain\cf1\f51\fs16\ql is authorized to vote, represent, and exercise on behalf of this Corporation all rights incident to any and all shares of any other corporation or corporations\plain\cf1\f51\fs16\ql standing in the name of this Corporation. The authority granted herein may be exercised either by such person directly or by any other person authorized\plain\cf1\f51\fs16\ql to do so by proxy or power of attorney duly executed by the person having such authority.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 5.12\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Authority and Duties of Officers\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql In addition to the foregoing authority and duties, all officers of the Corporation shall respectively have such authority and perform such duties\plain\cf1\f51\fs16\ql in the management of the business of the Corporation as may be designated from time to time by the Board of Directors or the stockholders.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 15
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\cf1\f51\fs16\b\qc ARTICLE VI\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\ul\qc INDEMNIFICATION OF DIRECTORS, OFFICERS, EMPLOYEES, \~AND OTHER AGENTS\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 6.1\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Indemnification of Directors and Officers\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql The Corporation shall, to the maximum extent and in the manner permitted by the General Corporation Law of Delaware, indemnify each of\plain\cf1\f51\fs16\ql its directors and officers against expenses (including attorneys\u8217? fees), judgments, fines, settlements and other amounts actually and reasonably\plain\cf1\f51\fs16\ql incurred in connection with any proceeding, arising by reason of the fact that such person is or was an agent of the Corporation. For purposes of this\plain\cf1\f51\fs16\ql Section 6.1, a \u8220?director\u8221? or \u8220?officer\u8221? of the Corporation includes any person (a) who is or was a director or officer of the\plain\cf1\f51\fs16\ql Corporation, (b) who is or was serving at the request of the Corporation as a director or officer of another corporation, partnership, joint venture, trust or\plain\cf1\f51\fs16\ql other enterprise, or (c) who was a director or officer of a Corporation which was a predecessor corporation of the Corporation or of another enterprise at\plain\cf1\f51\fs16\ql the request of such predecessor corporation.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 6.2\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Indemnification of Others\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql The Corporation shall have the power, to the maximum extent and in the manner permitted by the General Corporation Law of Delaware, to\plain\cf1\f51\fs16\ql indemnify each of its employees and agents (other than directors and officers) against expenses (including attorneys\u8217? fees), judgments, fines,\plain\cf1\f51\fs16\ql settlements and other amounts actually and reasonably incurred in connection with any proceeding, arising by reason of the fact that such person is or was\plain\cf1\f51\fs16\ql an agent of the Corporation. For purposes of this Section 6.2, an \u8220?employee\u8221? or \u8220?agent\u8221? of the Corporation (other than a\plain\cf1\f51\fs16\ql director or officer) includes any person (a) who is or was an employee or agent of the Corporation, (b) who is or was serving at the request of the\plain\cf1\f51\fs16\ql Corporation as an employee or agent of another corporation, partnership, joint venture, trust or other enterprise, or (c) who was an employee or agent of a\plain\cf1\f51\fs16\ql corporation which was a predecessor corporation of the Corporation or of another enterprise at the request of such predecessor corporation.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 6.3\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Payment of Expenses in Advance\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Expenses incurred in defending any action or proceeding for which indemnification is required pursuant to Section 6.1 or for which\plain\cf1\f51\fs16\ql indemnification is permitted pursuant to Section 6.2 following authorization thereof by the Board of Directors shall be paid by the Corporation in advance\plain\cf1\f51\fs16\ql of the final disposition of such action or proceeding upon receipt of an undertaking by or on behalf of the indemnified party to repay such amount if it\plain\cf1\f51\fs16\ql shall ultimately be determined, by final judicial decision from which there is no further right to appeal, that the indemnified party is not entitled to be\plain\cf1\f51\fs16\ql indemnified as authorized in this Article VI.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 6.4\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Indemnity Not Exclusive\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql The indemnification provided by this Article VI shall not be deemed exclusive of any other rights to which those seeking indemnification\plain\cf1\f51\fs16\ql may been titled under any Bylaw, agreement, vote of stockholders or disinterested directors or otherwise, both as to action in an\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 16
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\cf1\f51\fs16\ql official capacity and as to action in another capacity while holding such office, to the extent that such additional rights to indemnification are authorized\plain\cf1\f51\fs16\ql in the Certificate of Incorporation.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 6.5\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Insurance\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql The Corporation may purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent of the\plain\cf1\f51\fs16\ql Corporation, or is or was serving at the request of the Corporation as a director, officer, employee or agent of another corporation, partnership, joint\plain\cf1\f51\fs16\ql venture, trust or other enterprise against any liability asserted against him or her and incurred by him or her in any such capacity, or arising out of his or\plain\cf1\f51\fs16\ql her status as such, whether or not the Corporation would have the power to indemnify him or her against such liability under the provisions of the\plain\cf1\f51\fs16\ql General Corporation Law of Delaware.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 6.6\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Conflicts\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql No indemnification or advance shall be made under this Article VI, except where such indemnification or advance is mandated by law or the\plain\cf1\f51\fs16\ql order, judgment or decree of any court of competent jurisdiction, in any circumstance where it appears:\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql (a) That it would be inconsistent with a provision of the Certificate of Incorporation, these Bylaws, a resolution of the stockholders or an\plain\cf1\f51\fs16\ql agreement in effect at the time of the accrual of the alleged cause of the action asserted in the proceeding in which the expenses were incurred or other\plain\cf1\f51\fs16\ql amounts were paid, which prohibits or otherwise limits indemnification; or\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql (b) That it would be inconsistent with any condition expressly imposed by a court in approving a settlement.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qc ARTICLE VII\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\ul\qc RECORDS AND REPORTS\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 7.1\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Maintenance and Inspection of Records\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql The Corporation shall, either at its principal executive offices or at such place or places as designated by the Board of Directors, keep a\plain\cf1\f51\fs16\ql record of its stockholders listing their names and addresses and the number and class of shares held by each stockholder, a copy of these Bylaws as\plain\cf1\f51\fs16\ql amended to date, accounting books, and other records.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Any stockholder of record, in person or by attorney or other agent, shall, upon written demand under oath stating the purpose thereof, have\plain\cf1\f51\fs16\ql the right during the usual hours for business to inspect for any proper purpose the Corporation\u8217?s stock ledger, a list of its stockholders, and its\plain\cf1\f51\fs16\ql other books and records and to make copies or extracts therefrom. A proper purpose shall mean a purpose reasonably related to such person\u8217?s\plain\cf1\f51\fs16\ql interest as a stockholder. In every instance where an attorney or other agent is the person who seeks the right to inspection, the demand under oath shall\plain\cf1\f51\fs16\ql be accompanied by a power of attorney or such other writing that authorizes the attorney or other agent to so act on behalf of the stockholder. The\plain\cf1\f51\fs16\ql demand under\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 17
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\cf1\f51\fs16\ql oath shall be directed to the Corporation at its registered office in Delaware or at its principal place of business.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql A complete list of stockholders entitled to vote at any meeting of stockholders, arranged in alphabetical order for each class of stock and\plain\cf1\f51\fs16\ql showing the address of each such stockholder and the number of shares registered in each such stockholder\u8217?s name, shall be open to the\plain\cf1\f51\fs16\ql examination of any such stockholder for a period of at least ten (10) days prior to the meeting in the manner provided by law. The stock list shall also be\plain\cf1\f51\fs16\ql open to the examination of any stockholder during the whole time of the meeting as provided by law. This list shall presumptively determine the identity\plain\cf1\f51\fs16\ql of the stockholders entitled to vote at the meeting and the number of shares held by each of them.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 7.2\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Inspection by Directors\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Any director shall have the right to examine the Corporation\u8217?s stockledger, a list of its stockholders, and its other books and records\plain\cf1\f51\fs16\ql for a purpose reasonably related to his or her position as a director. The Court of Chancery is hereby vested with the exclusive jurisdiction to determine\plain\cf1\f51\fs16\ql whether a director is entitled to the inspection sought. The Court may summarily order the Corporation to permit the director to inspect any and all books\plain\cf1\f51\fs16\ql and records, the stock ledger, and the stock list and to make copies or extracts therefrom. The Court may, in its discretion, prescribe any limitations or\plain\cf1\f51\fs16\ql conditions with reference to the inspection, or award such other and further relief as the Court may deem just and proper.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qc ARTICLE VIII\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\ul\qc GENERAL MATTERS\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 8.1\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Checks\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql From time to time, the Board of Directors shall determine by resolution which person or persons may sign or endorse all checks, drafts, other\plain\cf1\f51\fs16\ql orders for payment of money, notes or other evidences of indebtedness that are issued in the name of or payable to the Corporation, and only the persons\plain\cf1\f51\fs16\ql so authorized shall sign or endorse those instruments.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 8.2\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Execution of Corporate Contracts and Instruments\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql The Board of Directors, except as otherwise provided in these Bylaws, may authorize any officer or officers, or agent or agents, to enter into\plain\cf1\f51\fs16\ql any contract or execute any instrument in the name of and on behalf of the Corporation; such authority may be general or confined to specific instances.\plain\cf1\f51\fs16\ql Unless so authorized or ratified by the Board of Directors or within the agency power of an officer, no officer, agent or employee shall have any power\plain\cf1\f51\fs16\ql or authority to bind the Corporation by any contract or engagement or to pledge its credit or to render it liable for any purpose or for any amount.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 18
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 8.3\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Stock Certificates; Partly Paid Shares\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql The shares of the Corporation shall be represented by certificates, provided that the Board of Directors of the Corporation may provide by\plain\cf1\f51\fs16\ql resolution or resolutions that some or all of any or all classes or series of its stock shall be uncertificated shares. Any such resolution shall not apply to\plain\cf1\f51\fs16\ql shares represented by a certificate until such certificate is surrendered to the Corporation. Notwithstanding the adoption of such a resolution by the Board\plain\cf1\f51\fs16\ql of Directors, every holder of stock represented by certificates and upon request every holder of uncertificated shares shall be entitled to have a certificate\plain\cf1\f51\fs16\ql signed by, or in the name of the Corporation by the chairman or vice-chairman of the Board of Directors, or the chief executive officer or the president\plain\cf1\f51\fs16\ql or vice-president, and by the chief financial officer or an assistant treasurer, or the secretary or an assistant secretary of the Corporation representing the\plain\cf1\f51\fs16\ql number of shares registered in certificate form. Any or all of the signatures on the certificate may be a facsimile. In case any officer, transfer agent or\plain\cf1\f51\fs16\ql registrar who has signed or whose facsimile signature has been placed upon a certificate has ceased to be such officer, transfer agent or registrar before\plain\cf1\f51\fs16\ql such certificate is issued, it may be issued by the Corporation with the same effect as if he or she were such officer, transfer agent or registrar at the date\plain\cf1\f51\fs16\ql of issue.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql The Corporation may issue the whole or any part of its shares as partly paid and subject to call for the remainder of the consideration to be\plain\cf1\f51\fs16\ql paid therefor. Upon the face or back of each stock certificate issued to represent any such partly paid shares, upon the books and records of the\plain\cf1\f51\fs16\ql Corporation in the case of uncertificated partly paid shares, the total amount of the consideration to be paid therefor and the amount paid thereon shall be\plain\cf1\f51\fs16\ql stated. Upon the declaration of any dividend on fully paid shares, the Corporation shall declare a dividend upon partly paid shares of the same class, but\plain\cf1\f51\fs16\ql only upon the basis of the percentage of the consideration actually paid thereon.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 8.4\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Special Designation on Certificates\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql If the Corporation is authorized to issue more than one class of stock or more than one series of any class, then the powers, the designations,\plain\cf1\f51\fs16\ql the preferences, and the relative, participating, optional or other special rights of each class of stock or series thereof and the qualifications, limitations or\plain\cf1\f51\fs16\ql restrictions of such preferences and/or rights shall be set forth in full or summarized on the face or back of the certificate that the Corporation shall issue\plain\cf1\f51\fs16\ql to represent such class or series of stock; provided, however, that, except as otherwise provided in Section 202 of the General Corporation Law of\plain\cf1\f51\fs16\ql Delaware, in lieu of the foregoing requirements there may be set forth on the face or back of the certificate that the Corporation shall issue to represent\plain\cf1\f51\fs16\ql such class or series of stock a statement that the Corporation will furnish without charge to each stockholder who so requests the powers, the designations,\plain\cf1\f51\fs16\ql the preferences, and the relative, participating, optional or other special rights of each class of stock or series thereof and the qualifications, limitations or\plain\cf1\f51\fs16\ql restrictions of such preferences and/or rights.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 8.5\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Lost Certificates\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Except as provided in this Section 8.5, no new certificates for shares shall be issued to replace a previously issued certificate unless the latter\plain\cf1\f51\fs16\ql is surrendered to the Corporation\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 19
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\cf1\f51\fs16\ql and canceled at the same time. The Corporation may issue a new certificate of stock or uncertificated shares in the place of any certificate previously\plain\cf1\f51\fs16\ql issued by it, alleged to have been lost, stolen or destroyed, and the Corporation may require the owner of the lost, stolen or destroyed certificate, or the\plain\cf1\f51\fs16\ql owner\u8217?s legal representative, to give the Corporation a bond sufficient to indemnify it against any claim that may be made against it on account of\plain\cf1\f51\fs16\ql the alleged loss, theft or destruction of any such certificate or the issuance of such new certificate or uncertificated shares.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 8.6\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Construction; Definitions\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Unless the context requires otherwise, the general provisions, rules of construction, and definitions in the Delaware General Corporation Law\plain\cf1\f51\fs16\ql shall govern the construction of these Bylaws. Without limiting the generality of this provision, the singular number includes the plural, the plural number\plain\cf1\f51\fs16\ql includes the singular, and the term \u8220?person\u8221? includes both a corporation and a natural person.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 8.7\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Dividends\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql The directors of the Corporation, subject to any restrictions contained in (a) the General Corporation Law of Delaware or (b) the Certificate\plain\cf1\f51\fs16\ql of Incorporation, may declare and pay dividends upon the shares of its capital stock. Dividends may be paid in cash, in property, or in shares of the\plain\cf1\f51\fs16\ql Corporation\u8217?s capital stock.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql The directors of the Corporation may set apart out of any of the funds of the Corporation available for dividends a reserve or reserves for any\plain\cf1\f51\fs16\ql proper purpose and may abolish any such reserve. Such purposes shall include but not be limited to equalizing dividends, repairing or maintaining any\plain\cf1\f51\fs16\ql property of the Corporation, and meeting contingencies.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 8.8\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Fiscal Year\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql The fiscal year of the Corporation shall be fixed by resolution of the Board of Directors and may be changed by the Board of Directors.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 8.9\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Seal\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql The Corporation may adopt a corporate seal, which may be altered at pleasure, and may use the same by causing it or a facsimile thereof, to\plain\cf1\f51\fs16\ql be impressed or affixed or in any other manner reproduced.\par\pard\plain\cf1\f51\fs13\ql \~
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{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql Upon surrender to the Corporation or the transfer agent of the Corporation of a certificate for shares duly endorsed or accompanied by proper\plain\cf1\f51\fs16\ql evidence of succession, assignation or authority to transfer, it shall be the duty of the Corporation to issue a new certificate to the person entitled thereto,\plain\cf1\f51\fs16\ql cancel the old certificate, and record the transaction in its books.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 20
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par
\par\pard\plain
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 8.11\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Stock Transfer Agreements\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql The Corporation shall have power to enter into and perform any agreement with any number of stockholders of any one or more classes of\plain\cf1\f51\fs16\ql stock of the Corporation to restrict the transfer of shares of stock of the Corporation of any one or more classes owned by such stockholders in any\plain\cf1\f51\fs16\ql manner not prohibited by the General Corporation Law of Delaware.\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 8.12\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Registered Stockholders\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql The Corporation shall be entitled to recognize the exclusive right of a person registered on its books as the owner of shares to receive\plain\cf1\f51\fs16\ql dividends and to vote as such owner, shall be entitled to hold liable for calls and assessments the person registered on its books as the owner of shares,\plain\cf1\f51\fs16\ql and shall not be bound to recognize any equitable or other claim to or interest in such share or shares on the part of another person, whether or not it\plain\cf1\f51\fs16\ql shall have express or other notice thereof, except as otherwise provided by the laws of Delaware.\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
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\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 8.13\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ul\ql Facsimile Signatures\plain\intbl\cf1\f51\fs16\b\ql .\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql In addition to the provisions for use of facsimile signatures elsewhere specifically authorized in these Bylaws, facsimile signatures of any\plain\cf1\f51\fs16\ql officer or officers of the Corporation may be used whenever and as authorized by the Board of Directors or a committee thereof.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qc ARTICLE IX\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\ul\qc AMENDMENTS\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql The Bylaws of the Corporation may be adopted, amended or repealed by the stockholders entitled to vote; provided, however, that the\plain\cf1\f51\fs16\ql Corporation may, in its Certificate of Incorporation, confer the power to adopt, amend or repeal Bylaws upon the directors. The fact that such power has\plain\cf1\f51\fs16\ql been so conferred upon the directors shall not divest the stockholders of the power, nor limit their power to adopt, amend or repeal Bylaws.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 21
\page{\*\bkmkstart doc_1_4}{\*\bkmkend doc_1_4}\par\pard\plain\cf1\f51\fs16\b\qr Exhibit 4.3\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qc AMENDMENT TO\par\pard\plain\cf1\f51\fs16\b\qc AMENDED AND RESTATED\par\pard\plain\cf1\f51\fs16\b\qc INVESTORS\u8217? RIGHTS AGREEMENT\par\pard\plain\cf1\f51\fs16\b\qc OF SEATTLE GENETICS, INC.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql This Amendment (the \u8220?\plain\cf1\f51\fs16\ul\ql Amendment\plain\cf1\f51\fs16\ql \u8221?) to the Amended and Restated Investors\u8217? Rights Agreement dated as of December 22,\plain\cf1\f51\fs16\ql 1999, as amended to date (the \u8220?\plain\cf1\f51\fs16\ul\ql Existing Rights Agreement\plain\cf1\f51\fs16\ql \u8221?), is entered into as of July 8, 2003 by and among Seattle Genetics, Inc., a\plain\cf1\f51\fs16\ql Delaware corporation (the \u8220?\plain\cf1\f51\fs16\ul\ql Company\plain\cf1\f51\fs16\ql \u8221?), and the undersigned Investors and Founders holding at least a majority of the Registrable Securities\plain\cf1\f51\fs16\ql under the Existing Rights Agreement. Capitalized terms used herein without definition shall have the meanings assigned to them in the Existing Rights\plain\cf1\f51\fs16\ql Agreement.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\ul\qc RECITALS\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql A. The Company and the undersigned Investors and Founders are parties to the Existing Rights Agreement.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql B. The Existing Rights Agreement may be amended with the written consent of the Company and the holders of a majority of the Registrable\plain\cf1\f51\fs16\ql Securities thereunder. The undersigned Investors and Founders hold at least the requisite number of Registrable Securities to amend the Existing Rights\plain\cf1\f51\fs16\ql Agreement pursuant to the terms thereof.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql C. The Company and the undersigned Investors and Founders have agreed to amend the Existing Rights Agreement as set forth herein.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql NOW, THEREFORE, in consideration of the foregoing recitals and the mutual promises hereinafter set forth, the parties hereto agree as follows:\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql 1.\plain\cf1\f51\fs16\b\ul\ql Amendment of Underwriting Requirements Section\plain\cf1\f51\fs16\b\ql .\plain\cf1\f51\fs16\ql Section 1.8 of the Existing Rights Agreement is hereby amended to read in its entirety as\plain\cf1\f51\fs16\ql follows:\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\li88\fi440\cf1\f51\fs16\ql \u8220?1.8 \plain\li88\cf1\f51\fs16\ul\ql Underwriting Requirements\plain\li88\cf1\f51\fs16\ql . In connection with any offering involving an underwriting of shares of the Company\u8217?s capital\plain\li88\cf1\f51\fs16\ql stock, the Company shall not be required under Section 1.3 to include any of the Holders\u8217? securities in such underwriting unless they accept\plain\li88\cf1\f51\fs16\ql the terms of the underwriting as agreed upon between the Company and the underwriters selected by it (or by other persons entitled to select the\plain\li88\cf1\f51\fs16\ql underwriters), and then only in such quantity as the underwriters determine in their sole discretion will not jeopardize the success of the offering by\plain\li88\cf1\f51\fs16\ql the Company. If the total amount of securities, including Registrable Securities, requested by stockholders to be included in such offering exceeds\plain\li88\cf1\f51\fs16\ql the amount of securities sold other than by the Company that the underwriters determine in their sole discretion is compatible with the success of\plain\li88\cf1\f51\fs16\ql the offering, then the Company shall be
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\li88\cf1\f51\fs16\li431\ql required to include in the offering only that number of such securities, including Registrable Securities, which the underwriters determine in their\plain\li88\cf1\f51\fs16\ql sole discretion will not jeopardize the success of the offering (the securities so included to be apportioned pro rata among the selling stockholders\plain\li88\cf1\f51\fs16\ql according to the total amount of securities entitled to be included therein owned by each selling stockholder or in such other proportions as shall\plain\li88\cf1\f51\fs16\ql mutually be agreed to by such selling stockholders) but in no event shall (i) the aggregate amount of securities of the selling Holders and the\plain\li88\cf1\f51\fs16\ql holders of Registrable Shares (as defined in the Investor Rights Agreement dated as of the closing of the Company\u8217?s Series A convertible\plain\li88\cf1\f51\fs16\ql preferred stock financing (the \u8220?\plain\li88\cf1\f51\fs16\ul\ql New Rights Agreement\plain\li88\cf1\f51\fs16\ql \u8221?)) included in the offering be reduced below fifty percent (50%) of the total\plain\li88\cf1\f51\fs16\ql amount of securities included in such offering, (ii) any securities held by a Founder be included if any securities held by any selling Holder are\plain\li88\cf1\f51\fs16\ql excluded or (iii) shares of any other selling shareholder, other than a holder of Registrable Shares, be included in such registration which would\plain\li88\cf1\f51\fs16\ql reduce the number of shares which may be included by Holders, without the prior written consent of Holders of not less than 66-2/3% of the\plain\li88\cf1\f51\fs16\ql Registrable Securities proposed to be sold in the offering. For purposes of the preceding parenthetical concerning apportionment, for any selling\plain\li88\cf1\f51\fs16\ql stockholder which is a holder of Registrable Securities and which is a partnership or corporation, the partners, retired partners and stockholders of\plain\li88\cf1\f51\fs16\ql such holder, or the estates and family members of any such partners and retired partners and any trusts for the benefit of any of the foregoing\plain\li88\cf1\f51\fs16\ql persons shall be deemed to be a single \u8220?\plain\li88\cf1\f51\fs16\ul\ql selling stockholder\plain\li88\cf1\f51\fs16\ql ,\u8221? and any pro-rata reduction with respect to such \u8220?selling\plain\li88\cf1\f51\fs16\ql stockholder\u8221? shall be based upon the aggregate amount of shares carrying registration rights owned by all entities and individuals included in\plain\li88\cf1\f51\fs16\ql such \u8220?selling stockholder,\u8221? as defined in this sentence. For purposes of determining the apportionment of shares to be registered\plain\li88\cf1\f51\fs16\ql pursuant to Section 1.3 of this Agreement, such apportionment shall be made in accordance with Section 4.2 of the New Rights Agreement.\u8221?\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql 2.\plain\cf1\f51\fs16\b\ul\ql Conflicts with New Rights Agreement\plain\cf1\f51\fs16\b\ql .\plain\cf1\f51\fs16\ql In the event that any term or provision of the Existing Rights Agreement, as amended by this\plain\cf1\f51\fs16\ql Amendment, shall conflict in any manner with a term or provision of the New Rights Agreement, such term or provision of the New Rights Agreement\plain\cf1\f51\fs16\ql shall control.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql 3.\plain\cf1\f51\fs16\b\ul\ql Acknowledgement Regarding Inapplicable Provisions\plain\cf1\f51\fs16\b\ql .\plain\cf1\f51\fs16\ql The parties hereto acknowledge that the following provisions of the Existing Rights\plain\cf1\f51\fs16\ql Agreement are no longer applicable due to the completion by the Company of a Qualified IPO on March 9, 2001: Section 2.1 (Delivery of Financial\plain\cf1\f51\fs16\ql Statements), Section 2.2 (Inspection), Section 2.3 (Right of First Offer) and Section 2.4 (Board Observation Right).\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql 4.\plain\cf1\f51\fs16\b\ul\ql No Other Amendments\plain\cf1\f51\fs16\b\ql .\plain\cf1\f51\fs16\ql Except as expressly amended as set forth above or as it conflicts with the New Rights Agreement as described in\plain\cf1\f51\fs16\ql Section 2 above, the Existing Rights Agreement shall remain in full force and effect in accordance with its terms.
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\fi462\cf1\f51\fs16\li432\ql 5.\plain\cf1\f51\fs16\b\ul\ql Counterparts\plain\cf1\f51\fs16\b\ql .\plain\cf1\f51\fs16\ql This Amendment may be executed by facsimile and may be executed in counterparts, each of which shall be deemed an original\plain\cf1\f51\fs16\ql and all of which together shall constitute one document.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc [Signature Page Follows]\par\pard\plain\cf1\f51\fs13\ql \~
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\fi462\cf1\f51\fs16\li432\ql IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first written above.\par\pard\plain\cf1\f51\fs13\ql \~
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql SEATTLE GENETICS, INC.\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql By:\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql /s/ Clay B. Siegall\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
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\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Clay B. Siegall\cell{
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\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql President & Chief Executive Officer\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Address: 21823 30th Drive S.E.\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~\~\~\~\~\~\~\~\~\~\~\~Bothell, WA 98021\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Fax Number: (425) 527-4109\cell{
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\pard\plain\intbl\cf1\f51\fs16\b\ql FOUNDERS:\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql /s/ Clay B. Siegall\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Clay B. Siegall\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql /s/ H. Perry Fell\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql H. Perry Fell\cell{
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\pard\plain\intbl\cf1\f51\fs16\b\ql INVESTOR:\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql /s/ Karl Erik Hellstrom\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Karl Erik Hellstrom\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql /s/ Ingegard Hellstrom\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Ingegard Hellstrom, M.D.\cell{
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\pard\plain\intbl\cf1\f51\fs16\b\ql INVESTOR:\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql BAVP, L.P.\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql By:\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql /s/ Louis C. Bock\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Name:\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Louis C. Bock\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Title:\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Managing Member\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
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\pard\plain\intbl\cf1\f51\fs16\b\ql INVESTOR:\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql /s/ Michael Powell\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Michael Powell\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Managing Director\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Sofinnova Ventures, Inc.\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Cascade Investment, L.L.C.\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql By:\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql /s/ Michael Larson\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Name:\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Michael Larson\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Title:\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Business Manager\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql VULCAN VENTURES, INC.\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql By:\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql /s/ William D. Savoy\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Name: William D. Savoy\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Title: Vice President\cell{
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\pard\plain\intbl\f0\fs16\ql \~\cell{
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\pard\plain\intbl\cf1\f51\fs16\b\ql INVESTOR:\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Genencor International, Inc.\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql By:\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql /s/ Mark A. Goldsmith\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Name:\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Mark A. Goldsmith\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Title:\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Senior Vice President, Healthcare\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
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\page{\*\bkmkstart doc_1_5}{\*\bkmkend doc_1_5}\pard\plain\cf1\f51\fs16\qr [***] Confidential treatment requested\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qr Exhibit 10.1\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qc FIRST AMENDMENT TO LEASE\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql This First Amendment to Lease (this \u8220?First Amendment\u8221?) is made this 28th day of May, 2003, by and between B&N 141-302, LLC\plain\cf1\f51\fs16\ql (\u8220?Landlord\u8221?) and Seattle Genetics, Inc. (\u8220?Tenant\u8221?).\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qc RECITAL\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql This Landlord and Tenant are parties to that certain Lease dated December 1, 2000 (the \u8220?Lease\u8221?), for premises located at 21823 30th\plain\cf1\f51\fs16\ql Drive SE, Bothell, Washington 98021 (the \u8220?Premises\u8221?).\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Concurrent with the Lease, Tenant entered into a Pledge Agreement, an Account Control Agreement, and an Account Management Agreement\plain\cf1\f51\fs16\ql (collectively the \u8220?Pledge Documents\u8221?) for a pledge of securities and other collateral to be held in an account (the \u8220?Pledge\plain\cf1\f51\fs16\ql Account\u8221?) in satisfaction of security deposit requirements of the Lease.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Pursuant to the Lease, Tenant was further entitled to a Tenant Improvement Allowance as set forth in paragraph D of Exhibit C of the Lease.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Landlord and Tenant wish to modify the provisions of Section 4 of the Lease providing for reduction of the amount held in the Pledge Account,\plain\cf1\f51\fs16\ql and modifying the time period within which Tenant may draw the Tenant Improvement Allowance, all as more fully set forth herein.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Any capitalized terms not otherwise defined in this First Amendment shall have the meanings assigned in the Lease.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qc AGREEMENT\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql Now, therefore, for good and valuable consideration, the parties hereto agree as follows:\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql 1. There is hereby added a new section 4.4 as follows:\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\b\ql 4.4 Modifications to Section 4.3.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql a. In 2001, Tenant achieved a capitalized value in excess of $[***] which, pursuant to Section 4.3, reduced the required Security Deposit and\plain\cf1\f51\fs16\ql Pledge Account to $[***] (a \u8220?Capitalized Value Reduction\u8221?). Subsequent reductions in Tenant\u8217?s capitalized value would, under the\plain\cf1\f51\fs16\ql terms of the Lease, require reversal of the Capitalized Value Reduction. Landlord confirms, however, that it has waived the requirement of such reversal\plain\cf1\f51\fs16\ql for the period up to the date hereof. Landlord\u8217?s waiver has relied, among other factors, on Tenant\u8217?s representation and warranty that it was\plain\cf1\f51\fs16\ql not aware of any defaults by either Landlord or Tenant under the Lease or Pledge Documents nor any event or condition that if left uncured would\plain\cf1\f51\fs16\ql constitute a default with the passage of time, which representation and warranty Tenant hereby confirms as of the date of this First Amendment.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 1
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\cf1\f51\fs16\qr [***] Confidential treatment requested\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql b. From and after the date hereof, the following provisions shall govern the required amount of the Security Deposit and Pledge Account: The\plain\cf1\f51\fs16\ql Security Deposit and Pledge Account may remain at $[***], provided that if the capitalized value of Tenant reduces below $[***], or if the cash and cash\plain\cf1\f51\fs16\ql equivalents, including short and long term investments in marketable securities, restricted investments, and interest receivables associated with investments\plain\cf1\f51\fs16\ql in marketable securities, held by Tenant free and clear of all liens and pledges except the Pledge Account falls below $[***], or if Tenant\u8217?s total\plain\cf1\f51\fs16\ql stockholder equity established pursuant to GAAP falls below $[***], then the Capitalized Value Reduction shall be reversed and the amount of the\plain\cf1\f51\fs16\ql Security Deposit and Pledge Account shall be restored to the full amount required but for the Capitalized Value Reduction. Thereafter, the Capitalized\plain\cf1\f51\fs16\ql Value Reduction shall be reinstituted if Tenant\u8217?s capitalized value reaches a value of $[***], and shall be reversed again if the capitalized value\plain\cf1\f51\fs16\ql thereafter reduces below $[***] or if Tenant\u8217?s unpledged cash and equivalents (plus amounts held in the Pledge Account) fall below $[***], or if\plain\cf1\f51\fs16\ql Tenant\u8217?s total stockholder equity falls below $[***], and so on from that point with capitalized value trigger points of $[***] and $[***]\plain\cf1\f51\fs16\ql respectively, a cash and equivalents trigger point of $[***], and a total stockholder equity trigger point of $[***]. However, in no event shall the Security\plain\cf1\f51\fs16\ql Deposit and Pledge Account in any circumstances fall below $[***] as provided for under Section 4.3 of the lease.\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
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\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql 2.\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\b\ql Additional Security.\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql a. As additional security for Tenant\u8217?s performance of its obligations under the Lease, Tenant agrees to provide Landlord with a first lien\plain\cf1\f51\fs16\ql security interest in all of its furniture, fixtures and equipment excepting only leased photocopiers (the \u8220?Pledged Personalty\u8221?) as set forth in\plain\cf1\f51\fs16\ql the Security Agreement and UCC-1 filing attached hereto as Exhibit A. In the event the Pledge Account is increased to [***] ($[***]), Landlord agrees\plain\cf1\f51\fs16\ql to release its security interest in the Pledged Personalty, provided that if a Capitalized Value Reduction thereafter occurs, Tenant agrees to execute a new\plain\cf1\f51\fs16\ql security interest in the Pledged Personalty, and no such Capitalized Value Reduction shall be effective unless Tenant is able at such time to grant\plain\cf1\f51\fs16\ql Landlord a first lien security interest in the Pledged Personalty. Landlord shall be entitled to realize on the Pledged Personalty to cure any monetary\plain\cf1\f51\fs16\ql defaults of Tenant under the Lease (whether defaults in periodic payments, reimbursements or indemnifications), and may seek such recovery against the\plain\cf1\f51\fs16\ql Security Deposit and/or the Pledged Personalty in such order as Landlord may see fit in accordance with the terms of the Lease and the Security\plain\cf1\f51\fs16\ql Agreement.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql b. Concurrent with filing the UCC-1, Tenant shall provide Landlord with a UCC-1 insurance policy satisfactory to Landlord. Tenant shall be\plain\cf1\f51\fs16\ql responsible for the costs of the first UCC-1 insurance policy. In the event Landlord elects to require future UCC-1 insurance policies following any\plain\cf1\f51\fs16\ql subsequent Capitalized Value Reductions, the cost of the subsequent UCC-1 insurance policies shall be shared equally between Landlord and Tenant.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql 3.\plain\cf1\f51\fs16\b\ql Tenant Improvement Allowance.\plain\cf1\f51\fs16\ql Landlord and Tenant agree that there remains [***] ($[***]) in unexpended Tenant Improvement Allowance\plain\cf1\f51\fs16\ql pursuant to Exhibit C of the Lease. Landlord hereby agrees that Tenant may draw the remaining Tenant Improvement Allowance pursuant to the terms of\plain\cf1\f51\fs16\ql Exhibit C of the Lease at any time prior to [***], provided\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 2
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\cf1\f51\fs16\qr [***] Confidential treatment requested\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\ql that Tenant shall not be entitled to draw any portion of the remaining Tenant Improvement Allowance unless Tenant is in full compliance with the\plain\cf1\f51\fs16\ql requirements of Section 4 of the Lease (as the same may be modified from time to time).\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql 4. Except as specifically set forth herein, the Lease is and remains in full force and effect.\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql B&N 141-302, LLC\par\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql A Washington limited liability company\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Seattle Genetics, Inc.,\par\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql A Delaware corporation\cell{
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\pard\plain\intbl\cf1\f51\fs16\ql By:\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Washington Capital Management, Inc.\par\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~Its Manager\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql By:\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql /s/ Clay B. Siegall\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
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\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Its:\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql President & CEO\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
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\par\pard\plain
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{\trowd\cellx164\clvertalb\cellx250\cellx615\clvertalb\cellx701\cellx4320\trrh465
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql By:\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql /s/ Patrick Malley\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\cellx164\clvertalb\cellx250\cellx615\clvertalb\cellx701\cellx4320\trrh465\row}}}
{\trowd\cellx164\clvertalb\cellx250\cellx615\clvertalb\cellx701\clvertalb\cellx4320\trrh412
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Patrick S, Malley\par\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Vice President, Real Estate\cell{
{\trowd\cellx164\clvertalb\cellx250\cellx615\clvertalb\cellx701\clvertalb\cellx4320\trrh412\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 3
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\cf1\f51\fs16\qr [***] Confidential treatment requested\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\ul\qc EXHIBIT A\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qc SECURITY AGREEMENT\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql This Agreement is entered into by Seattle Genetics, Inc., a Delaware corporation (\u8220?Debtor\u8221?), with its chief executive office located at\plain\cf1\f51\fs16\ql the address set forth after its signature below, in favor of B&N 141-302, LLC, a Washington limited liability company (\u8220?Secured Party\u8221?),\plain\cf1\f51\fs16\ql with an office located at 1301 Fifth Avenue, Suite 1500, Seattle, Washington 98101-2632.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql In consideration of extensions of credit or other financial accommodations, now existing or hereafter made, Debtor represents and warrants to, and\plain\cf1\f51\fs16\ql agrees with Secured Party, as follows:\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\b\ql 1. \plain\cf1\f51\fs16\b\ul\ql Definitions. As used in this Agreement\plain\cf1\f51\fs16\b\ql :\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql \u8220?\plain\cf1\f51\fs16\b\ul\ql Collateral\plain\cf1\f51\fs16\ql \u8221? means all of the Furniture, Fixtures and Equipment of Debtor set forth in Exhibit A, located at 21823 30th Drive\plain\cf1\f51\fs16\ql SE, Bothell, WA and now owned or hereafter acquired by Debtor, including Proceeds and Products of the foregoing, excepting any leased photocopiers.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql \u8220?\plain\cf1\f51\fs16\b\ul\ql Default\plain\cf1\f51\fs16\ql \u8221? means any event referred to in section 4 of this Agreement.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql \u8220?\plain\cf1\f51\fs16\b\ul\ql Obligations\plain\cf1\f51\fs16\ql \u8221? means any monetary obligations of Debtor (whether scheduled or unscheduled payments, deposits, required\plain\cf1\f51\fs16\ql reimbursements or indemnifications) under that certain Lease between Debtor and Secured Party dated December 1, 2000, as amended by First\plain\cf1\f51\fs16\ql Amendment dated May 28, 2003 (the \u8220?Lease Amendment\u8221?), for premises located at 21823 30th Drive SE, Bothell, WA to the extent such\plain\cf1\f51\fs16\ql monetary obligations are not paid as and when due.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\ql \u8220?\plain\cf1\f51\fs16\b\ul\ql UCC\plain\cf1\f51\fs16\ql \u8221? means the Uniform Commercial Code (\u8220?UCC\u8221?). Any capitalized term used but not defined in this Security\plain\cf1\f51\fs16\ql Agreement shall have the meaning given to the term in the UCC.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\b\ql 2. \plain\cf1\f51\fs16\b\ul\ql Security Interest\plain\cf1\f51\fs16\b\ql .\plain\cf1\f51\fs16\ql Debtor hereby grants to Secured Party a security interest in all of Debtor\u8217?s right, title and interest in and to the\plain\cf1\f51\fs16\ql Collateral, to secure the prompt and unconditional payment and performance of the Obligations.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\b\ql 3. \plain\cf1\f51\fs16\b\ul\ql Debtor\u8217?s Covenants\plain\cf1\f51\fs16\b\ql .\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\b\ql a. \plain\cf1\f51\fs16\b\ul\ql Liens\plain\cf1\f51\fs16\b\ql .\plain\cf1\f51\fs16\ql Debtor shall, at its own expense keep the Collateral free of all liens and encumbrances except (i) the security interest of Secured\plain\cf1\f51\fs16\ql Party, (ii) liens arising in connection with taxes or other governmental charges or assessments which are not yet due and payable or are being contested in\plain\cf1\f51\fs16\ql good faith, provided that adequate reserves for the payment thereof have been established in accordance with generally accepted accounting principles, (iii)\plain\cf1\f51\fs16\ql liens of\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 1
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\cf1\f51\fs16\qr [***] Confidential treatment requested\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\ql carriers, warehousemen and vendors and other similar liens imposed by law incurred in the ordinary course of business for sums not overdue more than\plain\cf1\f51\fs16\ql 45 days or being contested in good faith, provided that adequate reserves for the payment thereof have been established in accordance with generally\plain\cf1\f51\fs16\ql accepted accounting principles, (iv) purchase money liens that will be discharged upon Debtor\u8217?s payment of the purchase price for the applicable\plain\cf1\f51\fs16\ql property, to the extent such liens relate solely to the property so purchased and (v) other liens, provided that the aggregate amount of indebtedness secured\plain\cf1\f51\fs16\ql by such other liens does not exceed $[***] at any time.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\b\ql b. \plain\cf1\f51\fs16\b\ul\ql Location, Removal, Sale or Disposition\plain\cf1\f51\fs16\b\ql .\plain\cf1\f51\fs16\ql All Collateral is located solely within the State of Washington at 21823 30th Drive SE, Bothell,\plain\cf1\f51\fs16\ql Washington, 98021 (the \u8220?Premises\u8221?). Without the prior written consent of Secured Party, Debtor will not remove the Collateral from the\plain\cf1\f51\fs16\ql Premises, nor sell or dispose of the Collateral, nor hold the Collateral for sale or lease to third parties, other than removals, sales or other dispositions (i)\plain\cf1\f51\fs16\ql of obsolete or worn-out Collateral or (ii) in the ordinary course of business.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\b\ql c. \plain\cf1\f51\fs16\b\ul\ql Insurance\plain\cf1\f51\fs16\b\ql .\plain\cf1\f51\fs16\ql Debtor will keep the Collateral continuously insured against fire, theft, malicious mischief, and such additional hazards as are\plain\cf1\f51\fs16\ql presently included in Special Form (also known as \u8220?all-risk\u8221?) insurance coverage. The policy will value the property using replacement cost.\plain\cf1\f51\fs16\ql The lender\u8217?s loss-payable endorsement will be added to the policy naming Secured Party. Upon execution of this Agreement and periodically upon\plain\cf1\f51\fs16\ql renewal of the policy or policies, Debtor will deliver a certificate of insurance providing evidence of coverage to Secured Party. In the event of loss,\plain\cf1\f51\fs16\ql Secured Party shall have full power to collect any and all proceeds of insurance upon the Collateral and to apply the same at its option to any obligation\plain\cf1\f51\fs16\ql secured hereby, whether or not matured, or to the restoration or repair of the Collateral. Secured Party shall have no liability whatsoever for any loss that\plain\cf1\f51\fs16\ql may occur by reason of the omission or lack of coverage of any such insurance. Debtor shall not enter into any final settlement of any claim under any\plain\cf1\f51\fs16\ql insurance policy on the Collateral without the prior written consent of Secured Party.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\b\ql d. \plain\cf1\f51\fs16\b\ul\ql Expenditures by Secured Party\plain\cf1\f51\fs16\b\ql .\plain\cf1\f51\fs16\ql Debtor will reimburse Secured Party upon demand for any expenditures by Secured Party for the\plain\cf1\f51\fs16\ql maintenance, protection and preservation of the Collateral or Secured Party\u8217?s security interest in the Collateral, including taxes, levies, insurance\plain\cf1\f51\fs16\ql and repairs, and for the collection, repossession, holding, preparation and sale or other disposition of or realization upon the Collateral. In no event shall\plain\cf1\f51\fs16\ql Secured Party have any obligation to make such expenditures nor any liability for failing to make them.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\b\ql e. \plain\cf1\f51\fs16\b\ul\ql Governmental Charges\plain\cf1\f51\fs16\b\ql .\plain\cf1\f51\fs16\ql Debtor shall pay before delinquency all taxes, assessments and other governmental charges which are or may\plain\cf1\f51\fs16\ql become a lien on any of the Collateral, except that no charge need be paid if (i) the validity of such charge is being contested in good faith by\plain\cf1\f51\fs16\ql appropriate proceedings, (ii) such proceedings do not involve any material danger of the sale, forfeiture or loss of the Collateral or any interest in the\plain\cf1\f51\fs16\ql Collateral and (iii) adequate reserves for the payment thereof have been established in accordance with generally accepted accounting principles.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 2
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\cf1\f51\fs16\qr [***] Confidential treatment requested\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\b\ql f. \plain\cf1\f51\fs16\b\ul\ql Access and Review\plain\cf1\f51\fs16\b\ql .\plain\cf1\f51\fs16\ql Secured Party shall at all times, upon reasonable advance notice, have the right to inspect any of Debtor\u8217?s\plain\cf1\f51\fs16\ql records relating to the Collateral and the right to obtain copies of those records. Secured Party shall at all times, upon reasonable advance notice, have the\plain\cf1\f51\fs16\ql right to visit Debtor\u8217?s premises during regular business hours to inspect the Collateral.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\b\ql 4. \plain\cf1\f51\fs16\b\ul\ql Defaults\plain\cf1\f51\fs16\b\ql .\plain\cf1\f51\fs16\ql Each of the following shall be a default (\u8220?Default\u8221?) under this Agreement:\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\b\ql a.\plain\cf1\f51\fs16\ql Any material default or event of default, after notice and opportunity to cure in accordance with the terms of the Lease and the Lease\plain\cf1\f51\fs16\ql Amendment, on any of the Obligations, whether or not the Obligations have been accelerated; or\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\b\ql b.\plain\cf1\f51\fs16\ql Any failure fully and timely to comply with any provision of this Agreement, if such failure shall continue for five (5) business days after\plain\cf1\f51\fs16\ql notice of such failure;\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\b\ql c.\plain\cf1\f51\fs16\ql Any transfer, disposition, levy, attachment or execution on, or seizure of, any of the Collateral; or\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\b\ql d.\plain\cf1\f51\fs16\ql Dissolution, termination of existence, insolvency or bankruptcy of Debtor or appointment of a receiver to take possession of any of the\plain\cf1\f51\fs16\ql Collateral.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\b\ql 5. \plain\cf1\f51\fs16\b\ul\ql Rights and Remedies of Secured Party\plain\cf1\f51\fs16\b\ql .\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\b\ql a. \plain\cf1\f51\fs16\b\ul\ql General\plain\cf1\f51\fs16\b\ql .\plain\cf1\f51\fs16\ql In addition to the rights and remedies granted to Secured Party in this Agreement, Secured Party shall at all times have the\plain\cf1\f51\fs16\ql rights and remedies of a secured party under the Uniform Commercial Code as enacted in the state of Washington and under all other applicable laws.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\b\ql b. \plain\cf1\f51\fs16\b\ul\ql Remedies\plain\cf1\f51\fs16\b\ql .\plain\cf1\f51\fs16\ql After the occurrence, and during the continuance, of a Default, Secured Party may take any one or more of the following\plain\cf1\f51\fs16\ql actions in its sole discretion:\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi1540\cf1\f51\fs16\b\ql (i)\plain\cf1\f51\fs16\ql Pay or perform any obligation of Debtor, which Debtor is required by this Agreement to pay or perform and add the amount so\plain\cf1\f51\fs16\ql paid to the Obligations secured hereby.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi1540\cf1\f51\fs16\b\ql (ii)\plain\cf1\f51\fs16\ql Enter the premises of Debtor and take custody of, sell or remove the Collateral, without notice or demand and without judicial\plain\cf1\f51\fs16\ql process, liability for trespass or the responsibility to post a bond or other financial undertaking.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi1540\cf1\f51\fs16\b\ql (iii)\plain\cf1\f51\fs16\ql Require the Debtor to assemble the Collateral, and make it available to Secured Party at Debtor\u8217?s premises or at any other\plain\cf1\f51\fs16\ql location selected by Secured Party, where it\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 3
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\cf1\f51\fs16\qr [***] Confidential treatment requested\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\ql will remain at Debtor\u8217?s expense pending sale or other disposition. Debtor acknowledges and agrees that any failure by it to assemble the Collateral\plain\cf1\f51\fs16\ql and make it available to Secured Party will constitute a threat of imminent and irreparable harm to Secured Party which will entitle Secured Party to seek\plain\cf1\f51\fs16\ql a court order or injunction: (A) appointing a receiver to take possession of the Collateral and sell or otherwise realize upon the Collateral and apply the\plain\cf1\f51\fs16\ql proceeds to the Obligations; and/or (B) directing Debtor to assemble the Collateral and make it available to Secured Party as required by this Security\plain\cf1\f51\fs16\ql Agreement. Debtor agrees that Secured Party shall be entitled to such relief upon and after a Default regardless of whether Debtor is solvent or insolvent,\plain\cf1\f51\fs16\ql and regardless of whether Secured Party is oversecured or undersecured, and regardless of any other fact or event other than the existence of a Default.\plain\cf1\f51\fs16\ql Debtor expressly waives any right to require either Secured Party or the receiver to post a bond or other security or financial undertaking as a condition to\plain\cf1\f51\fs16\ql obtaining any such order or injunction. All fees of the receiver shall become a part of the Obligations payable upon demand by Secured Party.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi1540\cf1\f51\fs16\b\ql (iv)\plain\cf1\f51\fs16\ql Sell, lease or otherwise dispose of the Collateral and apply the proceeds thereof to the Obligations. If notice of sale or disposition\plain\cf1\f51\fs16\ql of Collateral is required, ten (10) calendar days notice of any intended sale or other disposition of the Collateral shall be deemed to be reasonable.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi1540\cf1\f51\fs16\b\ql (v)\plain\cf1\f51\fs16\ql Secured Party may comply with any applicable State or federal law requirements in connection with a disposition of the Collateral\plain\cf1\f51\fs16\ql and compliance will not be considered adversely to affect the commercial reasonableness of any sale of the Collateral.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi946\cf1\f51\fs16\b\ql c. \plain\cf1\f51\fs16\b\ul\ql Deficiency\plain\cf1\f51\fs16\b\ql .\plain\cf1\f51\fs16\ql Debtor shall pay any deficiency remaining after application of the net proceeds of the Collateral to the Obligations.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\b\ql 6. \plain\cf1\f51\fs16\b\ul\ql Waiver of Defenses\plain\cf1\f51\fs16\b\ql .\plain\cf1\f51\fs16\ql Debtor agrees that Secured Party may enforce this Agreement without the necessity of resorting to or exhausting any\plain\cf1\f51\fs16\ql security or collateral and without the necessity of enforcing any guarantees. Debtor hereby waives the right to require Secured Party to proceed against\plain\cf1\f51\fs16\ql any other person or entity, including, without limitation, any other guarantor named herein, to foreclose any lien on any real or personal property, or to\plain\cf1\f51\fs16\ql exercise any right or remedy with respect to the Obligations.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\b\ql 7. \plain\cf1\f51\fs16\b\ul\ql Effectiveness\plain\cf1\f51\fs16\b\ql .\plain\cf1\f51\fs16\ql This Agreement shall remain in full force and effect until (i) all of the Obligations shall have been indefeasibly paid in full in\plain\cf1\f51\fs16\ql cash, and (ii) this Agreement shall have been terminated in writing by Secured Party.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\b\ql 8. \plain\cf1\f51\fs16\b\ul\ql Legal Expenses\plain\cf1\f51\fs16\b\ql .\plain\cf1\f51\fs16\ql In the event of any Default under this Agreement, any of the Obligations or any guaranty of any of the Obligations, or in the\plain\cf1\f51\fs16\ql event that any dispute arises relating to the interpretation, enforcement or performance of any of the foregoing, Secured Party shall be entitled to collect\plain\cf1\f51\fs16\ql from Debtor on demand all fees and expenses incurred in connection therewith, including but not limited to fees of attorneys. Without limiting the\plain\cf1\f51\fs16\ql generality of the foregoing, Debtor shall pay all such costs and expenses incurred in connection with: (a) trial court actions and appeals; (b) bankruptcy or\plain\cf1\f51\fs16\ql other insolvency proceedings of Debtor, any guarantor or other party liable for any of the Obligations or any party having any interest in any\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 4
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\cf1\f51\fs16\qr [***] Confidential treatment requested\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\ql security for any of the Obligations; (c) judicial or nonjudicial foreclosure on any security for any of the Obligations; (d) post-judgment collection\plain\cf1\f51\fs16\ql proceedings; (e) all claims, counterclaims, cross-claims and defenses asserted in any of the foregoing whether or not they arise out of or are related to\plain\cf1\f51\fs16\ql this Agreement; (f) all preparation for any of the foregoing; and (g) all settlement negotiations with respect to any of the foregoing.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\b\ql 9. \plain\cf1\f51\fs16\b\ul\ql Interest on Expenditures\plain\cf1\f51\fs16\b\ql .\plain\cf1\f51\fs16\ql All expenditures, fees, costs and other amounts for which Debtor is required to reimburse Secured Party under this\plain\cf1\f51\fs16\ql Agreement shall be payable upon demand and shall bear interest at the rate of twelve percent (12%) per year or the highest rate permitted by law\plain\cf1\f51\fs16\ql whichever is lower.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\b\ql 10. \plain\cf1\f51\fs16\b\ul\ql Perfection\plain\cf1\f51\fs16\b\ql .\plain\cf1\f51\fs16\ql Debtor shall take all actions and execute all documents reasonably required by Secured Party in order to perfect the security\plain\cf1\f51\fs16\ql interests granted in this Agreement. Debtor hereby authorizes and appoints Secured Party as its attorney-in-fact to execute such financing statements\plain\cf1\f51\fs16\ql describing the Collateral and other documents as may be necessary or appropriate in Secured Party\u8217?s reasonable judgment to perfect such security\plain\cf1\f51\fs16\ql interests. Such power is coupled with an interest and shall be irrevocable until all the Obligations shall have been indefeasibly paid and performed in full.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\b\ql 11. \plain\cf1\f51\fs16\b\ul\ql Governing Law\plain\cf1\f51\fs16\b\ql .\plain\cf1\f51\fs16\ql This Security Agreement shall be governed by, and construed in accordance with the laws of the state of Washington.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\b\ql 12. \plain\cf1\f51\fs16\b\ul\ql Binding Effect\plain\cf1\f51\fs16\b\ql .\plain\cf1\f51\fs16\ql This Security Agreement shall bind and shall inure to the benefit of the heirs, legatees, executors, administrators, successors\plain\cf1\f51\fs16\ql and assigns of Secured Party and shall bind all persons who become bound as a debtor to this Security Agreement.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\b\ql 13. \plain\cf1\f51\fs16\b\ul\ql Entire Agreement; Amendment\plain\cf1\f51\fs16\b\ql .\plain\cf1\f51\fs16\ql This Agreement and the other written documents, instruments and agreements entered into in connection with\plain\cf1\f51\fs16\ql this Agreement and the Obligations contain the complete and final expression of the entire agreement of the parties. No provision of this Agreement may\plain\cf1\f51\fs16\ql be amended, modified, waived or supplemented, except by a writing signed by the parties sought to be charged with the amendment, modification, waiver\plain\cf1\f51\fs16\ql or supplementation. No waiver by Secured Party of any Default shall be a waiver of any other Default.\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 5
\page\par\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par\par\pard\plain\cf1\f51\fs16\qr [***] Confidential treatment requested\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\li44\cf1\f51\fs16\ql DATED this 28th day of May 2003.\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql B&N 141-302, LLC, a Washington\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql limited liability company\cell{
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\pard\plain\intbl\f0\fs16\ql \~\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql By: Washington Capital Management, Its Manager\cell{
{\trowd\cellx4320\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\cellx612\clvertalb\cellx695\clvertalb\cellx4320\trrh465
\pard\plain\intbl\cf1\f51\fs16\qr By:\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql /s/ Patrick Malley\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
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{\trowd\cellx612\clvertalb\cellx695\clvertalb\cellx4320\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Patrick S. Malley\cell{
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{\trowd\cellx612\clvertalb\cellx695\clvertalb\cellx4320\trrh206
\pard\plain\intbl\cf1\f51\fs16\qr Its:\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Vice President, Real Estate\cell{
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\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
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\pard\plain\intbl\cf1\f51\fs16\qr Address:\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql 1301 Fifth Avenue, Suite 1500,\cell{
{\trowd\cellx612\clvertalb\cellx695\clvertalb\cellx4320\trrh206\row}}}
{\trowd\cellx612\clvertalb\cellx695\clvertalb\cellx4320\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Seattle, Washington 98101-2632.\cell{
{\trowd\cellx612\clvertalb\cellx695\clvertalb\cellx4320\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\cellx4320\trrh206
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Seattle Genetics, Inc., a Delaware corporation\cell{
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\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql By:\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql /s/ Clay B. Siegall\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Its:\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql President & CEO\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
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\pard\plain\intbl\f0\fs16\ql \~\cell{
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\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Address: 21823 30\plain\intbl\li176\cf1\f51\fs11\ql\super th\plain\intbl\li176\cf1\f51\fs16\ql Drive SE\par\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql \~\~\~\~\~\~\~\~\~\~\~\~\~\~\~Bothell, WA 98021\cell{
{\trowd\cellx4320\trrh413\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\qc 6
\page{\*\bkmkstart doc_1_6}{\*\bkmkend doc_1_6}\par\pard\plain\cf1\f51\fs16\b\qr Exhibit 31.1\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qc CERTIFICATION OF CHIEF EXECUTIVE OFFICER\par\pard\plain\cf1\f51\fs16\b\qc PURSUANT TO RULE 13A-14(A)\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\ql I, Clay B. Siegall, certify that:\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
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\pard\plain\intbl\cf1\f51\fs16\ql 1.\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql I have reviewed this quarterly report on Form 10-Q of Seattle Genetics, Inc.;\cell{
{\trowd\cellx323\cellx430\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
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\pard\plain\intbl\cf1\f51\fs16\ql 2.\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the\plain\intbl\cf1\f51\fs16\ql statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this\plain\intbl\cf1\f51\fs16\ql report;\cell{
{\trowd\cellx323\cellx430\cellx10800\trrh619\row}}}\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
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\pard\plain\intbl\cf1\f51\fs16\ql 3.\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the\plain\intbl\cf1\f51\fs16\ql financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;\cell{
{\trowd\cellx323\cellx430\cellx10800\trrh412\row}}}\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
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\pard\plain\intbl\cf1\f51\fs16\ql 4.\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql The registrant\u8217?s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as\plain\intbl\cf1\f51\fs16\ql defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:\cell{
{\trowd\cellx323\cellx430\cellx10800\trrh412\row}}}\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
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\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql (a)\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to\plain\intbl\cf1\f51\fs16\ql ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those\plain\intbl\cf1\f51\fs16\ql entities, particularly during the period in which this quarterly report is being prepared;\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh619\row}}}\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql (b)\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql [Paragraph reserved pursuant to SEC Release 33-8238]\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh413
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql (c)\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql evaluated the effectiveness of the registrant\u8217?s disclosure controls and procedures and presented in this report our conclusions about the\plain\intbl\cf1\f51\fs16\ql effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh413\row}}}\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh619
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql (d)\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql disclosed in this report any change in the registrant\u8217?s internal control over financial reporting that occurred during the\plain\intbl\cf1\f51\fs16\ql registrant\u8217?s most recent fiscal quarter (the registrant\u8217?s fourth fiscal quarter in the case of an annual report) that has materially\plain\intbl\cf1\f51\fs16\ql affected, or is reasonably likely to materially affect, the registrant\u8217?s internal control over financial reporting; and\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh619\row}}}\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\cellx323\cellx430\cellx10800\trrh413
\pard\plain\intbl\cf1\f51\fs16\ql 5.\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql The registrant\u8217?s other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting,\plain\intbl\cf1\f51\fs16\ql to the registrant\u8217?s auditors and the audit committee of registrant\u8217?s board of directors (or persons performing the equivalent functions):\cell{
{\trowd\cellx323\cellx430\cellx10800\trrh413\row}}}\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh413
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql (a)\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably\plain\intbl\cf1\f51\fs16\ql likely to adversely affect the registrant\u8217?s ability to record, process, summarize and report financial information; and\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh413\row}}}\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh413
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql (b)\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant\u8217?s\plain\intbl\cf1\f51\fs16\ql internal control over financial reporting.\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh413\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\li44\cf1\f51\fs16\ql Date: August 12, 2003\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\cellx4320\trrh465
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql /s/ C\plain\intbl\li176\cf1\f51\fs11\ql LAY\plain\intbl\li176\cf1\f51\fs16\ql B. S\plain\intbl\li176\cf1\f51\fs11\ql IEGALL\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\cellx4320\trrh465\row}}}
{\trowd\cellx4320\trrh413
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Clay B. Siegall\par\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql President and Chief Executive Officer\cell{
{\trowd\cellx4320\trrh413\row}}}
\page{\*\bkmkstart doc_1_7}{\*\bkmkend doc_1_7}\pard\plain\cf1\f51\fs16\b\qr Exhibit 31.2\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qc CERTIFICATION OF CHIEF FINANCIAL OFFICER\par\pard\plain\cf1\f51\fs16\b\qc PURSUANT TO RULE 13A-14(A)\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\ql I, Tim J. Carroll, certify that:\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\cellx323\cellx430\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs16\ql 1.\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql I have reviewed this quarterly report on Form 10-Q of Seattle Genetics, Inc.;\cell{
{\trowd\cellx323\cellx430\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\cellx323\cellx430\cellx10800\trrh619
\pard\plain\intbl\cf1\f51\fs16\ql 2.\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the\plain\intbl\cf1\f51\fs16\ql statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this\plain\intbl\cf1\f51\fs16\ql report;\cell{
{\trowd\cellx323\cellx430\cellx10800\trrh619\row}}}\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\cellx323\cellx430\cellx10800\trrh412
\pard\plain\intbl\cf1\f51\fs16\ql 3.\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the\plain\intbl\cf1\f51\fs16\ql financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;\cell{
{\trowd\cellx323\cellx430\cellx10800\trrh412\row}}}\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\cellx323\cellx430\cellx10800\trrh412
\pard\plain\intbl\cf1\f51\fs16\ql 4.\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql The registrant\u8217?s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as\plain\intbl\cf1\f51\fs16\ql defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:\cell{
{\trowd\cellx323\cellx430\cellx10800\trrh412\row}}}\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh619
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql (a)\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to\plain\intbl\cf1\f51\fs16\ql ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those\plain\intbl\cf1\f51\fs16\ql entities, particularly during the period in which this quarterly report is being prepared;\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh619\row}}}\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql (b)\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql [Paragraph reserved pursuant to SEC Release 33-8238]\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh206\row}}}\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh413
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql (c)\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql evaluated the effectiveness of the registrant\u8217?s disclosure controls and procedures and presented in this report our conclusions about the\plain\intbl\cf1\f51\fs16\ql effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh413\row}}}\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh619
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql (d)\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql disclosed in this report any change in the registrant\u8217?s internal control over financial reporting that occurred during the\plain\intbl\cf1\f51\fs16\ql registrant\u8217?s most recent fiscal quarter (the registrant\u8217?s fourth fiscal quarter in the case of an annual report) that has materially\plain\intbl\cf1\f51\fs16\ql affected, or is reasonably likely to materially affect, the registrant\u8217?s internal control over financial reporting; and\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh619\row}}}\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\cellx323\cellx430\cellx10800\trrh413
\pard\plain\intbl\cf1\f51\fs16\ql 5.\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql The registrant\u8217?s other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting,\plain\intbl\cf1\f51\fs16\ql to the registrant\u8217?s auditors and the audit committee of registrant\u8217?s board of directors (or persons performing the equivalent functions):\cell{
{\trowd\cellx323\cellx430\cellx10800\trrh413\row}}}\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh413
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql (a)\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably\plain\intbl\cf1\f51\fs16\ql likely to adversely affect the registrant\u8217?s ability to record, process, summarize and report financial information; and\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh413\row}}}\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh413
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql (b)\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs16\ql any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant\u8217?s\plain\intbl\cf1\f51\fs16\ql internal control over financial reporting.\cell{
{\trowd\clvertalc\cellx432\cellx755\cellx863\cellx10800\trrh413\row}}}\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\li44\cf1\f51\fs16\ql Date: August 12, 2003\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\cellx4320\trrh465
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql /s/ T\plain\intbl\li176\cf1\f51\fs11\ql IM\plain\intbl\li176\cf1\f51\fs16\ql J. C\plain\intbl\li176\cf1\f51\fs11\ql ARROLL\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\cellx4320\trrh465\row}}}
{\trowd\cellx4320\trrh413
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Tim J. Carroll\par\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Chief Financial Officer\cell{
{\trowd\cellx4320\trrh413\row}}}
\page{\*\bkmkstart doc_1_8}{\*\bkmkend doc_1_8}\pard\plain\cf1\f51\fs16\b\qr Exhibit 32.1\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qc CERTIFICATION OF CHIEF EXECUTIVE OFFICER\par\pard\plain\cf1\f51\fs16\b\qc PURSUANT TO 18 U.S.C. SECTION 1350\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql In connection with the accompanying Quarterly Report on Form 10-Q of Seattle Genetics, Inc. (the \u8220?Company\u8221?) for the period ended\plain\cf1\f51\fs16\ql June 30, 2003 as filed with the Securities and Exchange Commission on the date hereof (the \u8220?Report\u8221?), I, Clay B. Siegall, Chief Executive\plain\cf1\f51\fs16\ql Officer of the Company, hereby certify pursuant to 18 U.S.C. 1350, as adopted pursuant to \u167? 906 of the Sarbanes-Oxley Act of 2002, that, to the\plain\cf1\f51\fs16\ql best of my knowledge:\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql (1) the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql (2) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\cellx4806\clvertalb\cellx5022\cellx5276\clvertalb\cellx5491\cellx10422\trrh465
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Date: August 12, 2003\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql /s/ C\plain\intbl\li176\cf1\f51\fs11\ql LAY\plain\intbl\li176\cf1\f51\fs16\ql B. S\plain\intbl\li176\cf1\f51\fs11\ql IEGALL\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\cellx4806\clvertalb\cellx5022\cellx5276\clvertalb\cellx5491\cellx10422\trrh465\row}}}
{\trowd\cellx2295\clvertalb\cellx2511\cellx4806\clvertalb\cellx5022\cellx5276\clvertalb\cellx5491\cellx10422\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Clay B. Siegall\cell{
{\trowd\cellx2295\clvertalb\cellx2511\cellx4806\clvertalb\cellx5022\cellx5276\clvertalb\cellx5491\cellx10422\trrh206\row}}}
{\trowd\cellx2295\clvertalb\cellx2511\cellx4806\clvertalb\cellx5022\cellx5276\clvertalb\cellx5491\cellx10422\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Chief Executive Officer\cell{
{\trowd\cellx2295\clvertalb\cellx2511\cellx4806\clvertalb\cellx5022\cellx5276\clvertalb\cellx5491\cellx10422\trrh206\row}}}
\page{\*\bkmkstart doc_1_9}{\*\bkmkend doc_1_9}\pard\plain\cf1\f51\fs16\b\qr Exhibit 32.2\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\cf1\f51\fs16\b\qc CERTIFICATION OF CHIEF FINANCIAL OFFICER\par\pard\plain\cf1\f51\fs16\b\qc PURSUANT TO 18 U.S.C. SECTION 1350\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql In connection with the accompanying Quarterly Report on Form 10-Q of Seattle Genetics, Inc. (the \u8220?Company\u8221?) for the period ended\plain\cf1\f51\fs16\ql June 30, 2003 as filed with the Securities and Exchange Commission on the date hereof (the \u8220?Report\u8221?), I, Tim Carroll, Chief Financial\plain\cf1\f51\fs16\ql Officer of the Company, hereby certify pursuant to 18 U.S.C. 1350, as adopted pursuant to \u167? 906 of the Sarbanes-Oxley Act of 2002, that, to the\plain\cf1\f51\fs16\ql best of my knowledge:\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql (1) the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and\par\pard\plain\cf1\f51\fs13\ql \~\par\pard\plain\fi462\cf1\f51\fs16\ql (2) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.\par\pard\plain\cf1\f51\fs13\ql \~
\par\pard\plain
{\trowd\cellx4806\clvertalb\cellx5022\cellx5276\clvertalb\cellx5491\cellx10422\trrh465
\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Date: August 12, 2003\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql /s/ T\plain\intbl\li176\cf1\f51\fs11\ql IM\plain\intbl\li176\cf1\f51\fs16\ql J. C\plain\intbl\li176\cf1\f51\fs11\ql ARROLL\par\pard\plain\intbl\f0\fs4\par\pard\plain\intbl\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\intbl\f0\fs4\par\intbl\cell{
{\trowd\cellx4806\clvertalb\cellx5022\cellx5276\clvertalb\cellx5491\cellx10422\trrh465\row}}}
{\trowd\cellx2295\clvertalb\cellx2511\cellx4806\clvertalb\cellx5022\cellx5276\clvertalb\cellx5491\cellx10422\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Tim J. Carroll\cell{
{\trowd\cellx2295\clvertalb\cellx2511\cellx4806\clvertalb\cellx5022\cellx5276\clvertalb\cellx5491\cellx10422\trrh206\row}}}
{\trowd\cellx2295\clvertalb\cellx2511\cellx4806\clvertalb\cellx5022\cellx5276\clvertalb\cellx5491\cellx10422\trrh206
\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\cf1\f51\fs13\ql \~\cell\pard\plain\intbl\li176\fi-176\cf1\f51\fs16\ql Chief Financial Officer\cell{
{\trowd\cellx2295\clvertalb\cellx2511\cellx4806\clvertalb\cellx5022\cellx5276\clvertalb\cellx5491\cellx10422\trrh206\row}}}}